53
RBA interest rates: Reserve Bank of Australia leaves official cash rate steady at 4.1%
(www.theguardian.com)
this post was submitted on 04 Jul 2023
53 points (100.0% liked)
Australia
3607 readers
39 users here now
A place to discuss Australia and important Australian issues.
Before you post:
If you're posting anything related to:
- The Environment, post it to Aussie Environment
- Politics, post it to Australian Politics
- World News/Events, post it to World News
- A question to Australians (from outside) post it to Ask an Australian
If you're posting Australian News (not opinion or discussion pieces) post it to Australian News
Rules
This community is run under the rules of aussie.zone. In addition to those rules:
- When posting news articles use the source headline and place your commentary in a separate comment
Banner Photo
Congratulations to @[email protected] who had the most upvoted submission to our banner photo competition
Recommended and Related Communities
Be sure to check out and subscribe to our related communities on aussie.zone:
- Australian News
- World News (from an Australian Perspective)
- Australian Politics
- Aussie Environment
- Ask an Australian
- AusFinance
- Pictures
- AusLegal
- Aussie Frugal Living
- Cars (Australia)
- Coffee
- Chat
- Aussie Zone Meta
- bapcsalesaustralia
- Food Australia
- Aussie Memes
Plus other communities for sport and major cities.
https://aussie.zone/communities
Moderation
Since Kbin doesn't show Lemmy Moderators, I'll list them here. Also note that Kbin does not distinguish moderator comments.
Additionally, we have our instance admins: @[email protected] and @[email protected]
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I’m happy that they haven’t moved this month but disheartened that they’re considering further rises. Inflation has really started ticking back down and while it’s not back in the ‘goldilocks’ zone yet things are definitely easing. They really need to wait and see what the mortgage cliff towards the end of the year will do to the market before moving up anymore as they could be directly responsible for pushing us into recession.
@Instigate @Mountaineer they really need the federal government to get off their collective arses and do something instead of hiding behind the RBA and the blunt cash rate stick.
Shit like Air-BNB eating into housing stock, corporations passing on rate rises wholesale to ensure record profits, or even reneging on the tax cut promise.
But the government is happy for Philip Lowe and the RBA to cop the brunt of it (some of it is deserved, admittedly)
It’s rare for inflation to be tamed without a recession, so we will wait and see. Setting the goal at 2 - 3% by 2025 hurts everyone as inflation stays above the range longer.
Moving hard to bring it down sooner hurts a few who borrowed too much for a place they can’t afford, yet helps everyone else as lower inflation benefits all of us. The RBA is playing it too safe imo and hoping for this narrow path which seems unlikely.