Hi, I'm Sam Hawley, coming to you from Gadigal Land. This is ABC News Daily. As the Reserve Bank weighs up whether to increase interest rates for an 11th consecutive time, the spotlight is on whether it's doing the right thing by all Australians. An independent review into the bank has handed 51 recommendations to the Treasurer, Jim Chalmers, to improve its practices.
We've had ten rate rises in a row. We could have another one today or next month before the budget. And lots of people keep pointing to the fact that the RBA governor said the interest rates wouldn't move until 2024 at least.Reserve Bank Governor Philip Lowe has apologised for saying interest rates would not rise until 2024.I'm sorry that people listen to what we'd said and acted on that and now find themselves in a position they don't want. Don't want to be in.
There've been opportunities to improve living standards. But then we look at the last couple of decades in Australia, and unfortunately, the neoliberal policies that have been in place over much of that couple of decades haven't been directed towards distribution.And I can explain what neoliberalism is in a minute, but he said that that's not what Australia became.
As the Reserve Bank weighs up whether to increase interest rates for an eleventh consecutive time, the spotlight is on whether it's doing the right thing by all Australians. An independent review into the bank has handed 51 recommendations to the Treasurer, Jim Chalmers, to improve its practices.Today, ABC business and economics reporter, Gareth Hutchens, on how and why life in Australia has become less fair in the past 30 years.
It's excessive spending by the government, businesses and consumers.
Pretty sure the record low rates that preceeded it were the ‘go’.
“The fair go” is just a foundational myth the country tells itself about itself.
There is no fair go. You either bought into the property market 40 years ago, or are benefiting from parents who did.
you actually have to WORK to qualify for 'fair go' status
No, cost of rent is!
The 'fair go' died when little johny jackboot got in.
You have to ask that 🤦
The rich front run the rate rises, book profits and leave the debt problems to the poor. What's not to love?
The 'fair go' is dead ABC... The scamdemic took care of any signs that may have been left.
No, the fair go died a long time ago
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