We are not off to a great start with someone selling down 250,000 shares at 2.6 cents this morning and further interest rate rises coming will see hardship across the financial sector and the homes of Australia for wage earners.
Seems the federal government wants to smash inflation by crushing borrowers after record hikes in house prices and heavy mortgage borrowing by new home owners.
Tightening of the economy to pay for the war in Ukraine spend by the federal government and the heavy spend by the federal government during Covid shut down.
All this needs to be paid back into the federal reserve, so hike the interest rates and make home borrowers pay for it and say its to curb inflation.
Inflation due the politic of the world at present with energy prices and such spiralling.
The cost of borrowing money will slow the economy as far as house prices going forward which may not be a bad thing for some but for sellers well look out here we go again after the last run like the GFC all over again.
2023 not looking good for many Australians.
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