there are many reasons why the RBA hasn't yet raised the bank rate, yet the banks have raised their rates for new loans and transfers.
I prefer to read the RBA decisions than read only the news items. they give the reasons and its worthwhile knowing the RBA reasons.
but as biked says the political reasoning is also important to understand. Morrison sees the low interest rate that remains as an opportunity to get more people deeper into debt that will become a cause of bankruptcies once the interest rates rise a few percent. If mortgages get to 7% many new homeowners with 98% debt will end up with no equity and banks demanding their money back pretty pronto..... defaults will come and peoples credit trashed.
