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04/10/22

19:15

Post #: 64026578
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Originally posted by Jrowl1: ↑

Central bankers around the world are now easing, RBA just did 0.25 for a cash rate of 2.6% to return inflation to their goal of 2%-3% inflation PA, what a joke they are still have a goal 2%-3% inflation, isn't inflation doing enough damage already?

" At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 2.60 per cent. It also increased the interest rate on Exchange Settlement balances by 25 basis points to 2.50 per cent.

The Board is committed to returning inflation to the 2–3 per cent range over time. Today’s increase in interest rates will help achieve this goal and further increases are likely to be required over the period ahead. The cash rate has been increased substantially in a short period of time. Reflecting this, the Board decided to increase the cash rate by 25 basis points this month as it assesses the outlook for inflation and economic growth in Australia."

Like really, rates at 2.60% while inflation is much higher, with the goal of returning inflation to 2%-3% their policy goal (which is insane, still clinging on some rationally that is correct when it is not), well even if they achieve that, what is the point of an investor getting 2.60% when inflation gets to 2%-3% and then the investor would have to pay 33% in tax on that 2.60% interest, what a joke. The RBA has been very very reluctant to raise rates, just following the fed but dragging their feet with smaller hikes and now just .25%. Now gold has exploded in AUD from 2500 to 2600 meaning people in bank accounts just lost their 4% yield in the highest paying bank account to gold (real money) in one day and will have to wait a year to get that 4% to counter balance it and I doubt if they wait a year to get 4% they could then buy if they choose at $2600 rather than $2500. What a sh!t show it is now. I think more people are going to pile into gold regardless of rates, RBA should have stayed committed but they have folded now like England. AUD to tank.

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I'm getting 3% at the bank, it sure beats the Schiff out of this massive failure.
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