Source:If you're an Australian currently paying off a mortgage, you may have spent the last year dreading the monthly cash-rate announcement by the Reserve Bank of Australia., the current rate of 4.1 per cent is still sitting at its highest level since 2012.
The bank's policy committee said it would tighten "as much as needed in a timely and gradual manner" to cool inflation, which soared to nearly 48 per cent last month. Under the previous governor, the bank had slashed rates to 8.5 per cent from 19 per cent in 2021 in line with Erdogan's unorthodox belief that high rates fuel inflation.
Türkiye's central bank had slashed rates to 8.5 per cent from 19 per cent in 2021 because of Erdogan's unorthodox belief that high rates fuel inflation.The central bank said that rising oil prices and a deterioration in inflation expectations suggest that inflation will end the year at the upper bound of its forecasts. Still, "disinflation will be established in 2024," it added.