RBA lifts interest rates to 11-year high of 4.1 per cent
The Reserve Bank has inflicted more pain on the nation’s army of mortgage holders, lifting interest rates to an 11-year high of 4.1 per cent.
“I do expect that there will be a lot of Australians who will find this decision difficult to understand and difficult to cop.” “Housing prices are rising again and some households have substantial savings buffers, although others are experiencing a painful squeeze on their finances.” On Wednesday, the government will release the national accounts figures for the first three months of the year, and Chalmers said he expected it to show a “substantial slowing” of the economy in the next 12-18 months.
CreditorWatch chief economist Anneke Thompson said despite signs of a slowdown in the economy, the Reserve Bank was clearly concerned about the inflation pressures in the economy.
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