I want them to rise as my kids are trying to buy property, but given the information the RBA are working off, I agree with them that rate rises are years away.
If inflation is being driven mainly by things like oil, then raising rates in Australia won’t change the price of oil, it will just tank the rest of the economy to ensure inflation stays in the target range.
This is why we need to see wage growth before we see rate rises. Countries raising rates have seen wage growth. Australia has not.
I want them to rise as my kids are trying to buy property, but...
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