With the scent of election defeat in the air, poor old Dimmy is letting his motor mouth run hysterically amok.
By expanding the money supply in order to buy votes the economic lightweight has fuelled inflation. Hence the RBA has had to raise rates.
But wait, you say!
Dimmy says he hasn't fueled inflation at all.
Sadly, how can one believe anything that leaks out of a laborite's mouth. ~50 broken promises. they were lies apparently.
So now Dimmy is pompously demanding that we believe him, he who has fueled inflation, that the GDP's demise is all the RBA's fault.
Oh dear, GDP figures are out on Wednesday.
"
Treasurer Jim Chalmers has hit out at the Reserve Bank, blaming it for "smashing" households with higher interest rates during a cost of living crisis as he sought to shift blame ahead of new data on Australia's economic growth.
Households have been struggling to keep pace with high inflation, slow wages growth and the fastest monetary tightening since the 1980s, with the RBA hiking rates 13 times from a record low of 0.1 per cent to the current level of 4.35 per cent since May 2022."
https://www.skynews.com.au/australi...s/news-story/b28e50a7909a709422703d09e5d6641c
