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31/05/23

17:28

Post #: 68062817
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Originally posted by Hollyw00d: ↑

They weren't buying bonds to make money, they were doing so to increase liquidity to prevent a crash. Right or wrong he would have been equally criticised if he didn't act and the market did in fact crash.

Now the tables have turned and its time to raise rates as inflation is our worst nightmare. People have to take responsibility for their own financial affairs and stop blaming others for the position they are in.

Inflation is worse than higher rates - people cant seem to grasp this, excess spending needs to stop!

Todays rates are basically negative 2.95% (3.85% less 6.8% inflation) which is more stimulative compared to when the cash rate was @ zero.

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Which ever way you look at it, the RBA review board thought Phillip had screwed up.

Panel members | Review of the Reserve Bank of Australia (rbareview.gov.au)
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