instead of raising rates, again, the rba has extended its forecast of achieving its inflation target another 12 months.
if it feels like the cost of everything is still rising its because it is, but the rba are terrified of raising rates because they know it will push mortgagees over the edge.
instead, they are praying on a global recession to come to the rescue and yes, they will get there wish, eventually.
meanwhile, having raised rates to 5.5% the uk is now seeing inflation at 2%.
this has got to be the worst rba in australian history. enjoy continuing rising costs australia.
