this post was submitted on 04 Jul 2023
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RBA interest rates: Reserve Bank of Australia leaves official cash rate steady at 4.1% (www.theguardian.com)
submitted 1 year ago by Mountaineer@lemmy.world to c/australia@aussie.zone
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[–] hitmyspot@aussie.zone 7 points 1 year ago

I don't know. I think they have been behind the curve all the way. Inflation is dropping and the economy is showing signs of creaking. I think if they went harder earlier, we'd already be better off. The same logic makes me wonder if a small increase now will prevent 2 in the not too distant future.

I think they should be talking about government not using their levers more, though. It means there will be mounting pressure to end stage 3 tax cuts, which would be inflationary. Labor are only keeping them as they didn't and don't want to be wedged.

They should be cutting the spending where it's happening. The wealthy and the older generation. Instead the RBA only has the means to disproportionately affect the young who are more indebted than ever historically.