RBA boss should lose job after interest rate hikes, but Australians expect more to come

Australians are bracing for another interest rate hike and are holding the federal government responsible for the hit to their households, while 52 per cent believe Reserve Bank governor Phil Lowe should lose his job.

With union leaders and some Labor backbenchers taking swipes at Lowe over the rate hikes, only 26 per cent of voters believe the central bank and its governor are doing a good job, while 56 per cent think they are doing a poor job.last week when asked why the May budget assumed the central bank’s cash rate would remain at 3.85 per cent – a forecast proven wrong within weeks when the bank lifted the rate to 4.1 per cent.

Asked if Lowe should keep his job, 17 per cent said his appointment should be extended and 52 per cent said the government should choose someone else, with others undecided. “Philip Lowe is doing his job, which is to fight inflation,” said Liberal senator Andrew Bragg, adding the government should do more to help by cutting spending.

The Resolve Political Monitor found that 82 per cent of voters expected more interest rate increases this year and 67 per cent expected inflation to get worse this year.grown in nominal terms

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

RBA boss should lose job after interest rate hikes, but Australians expect more to comeEXCLUSIVE: Australians are bracing for another interest rate hike and are holding the federal government responsible for the hit to their households, while 52 per cent believe Reserve Bank governor Phil Lowe should lose his job.
Source: brisbanetimes - 🏆 13. / 67 Read more »

NAB predicts more interest rate rises as RBA is already ‘three or four’ behindThe RBA may have more interest rates on the rise, but they’re already “three of four” behind in terms of what they’ve already done for consumer spending, says NAB Chief Economist Alan Oster. “The consumer is slowing significantly and will continue to slow,” he told Sky News Business Editor Ross Greenwood. “You’ve got one and a half per cent of interest rates on our forecasts still to go, in terms of affecting consumers spending habits.”
Source: SkyNewsAust - 🏆 7. / 78 Read more »

Assistant Treasurer Stephen Jones: RBA’s tightening cycle is ‘sucking money’ out of the economy: JonesAssistant Treasurer Stephen Jones says he’s hopeful the economy will avoid a recession, despite the RBA’s “aggressive” interest rate tightening cycle; how Donald Trump’s court appearance unfolded. Follow updates here.
Source: FinancialReview - 🏆 2. / 90 Read more »