I think we all know they don't have inflation anywhere near controlled - but drop rates they will have to and pretend all is shmicko! Tenuous times - the spenders aren't the battlers - baby boomers generally are still flush with cash and a couple percentage points is earning them more on deposits anyway. Interest rates are targetting the wrong people - those who can't spend. 43% of homes paid for in full, boomers have cash - so lets say 25-30% are vulnerable.
Wrong people pay the price with this archaic monetary tool. If they keep the rates high = the boss will pay = up goes inflation again - what a joke!
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- rba rates to top out at 8 to 8.25
I think we all know they don't have inflation anywhere near...
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Anthony Noble, MD & CEO
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