"In Australia, the RBA inexplicably raised rates three times within 4-5 months as soon as the Federal Coalition government was re-elected in May 2019. This was most likely because of political pressure, as the lending landscape in the lead-up to the election was a precarious one."
The facts.
"In 2019, the real interest rate in Australia dropped to approximately 1.64 percent, a decrease compared to the previous year's rate of 3.3 percent."
The reasons.
1 - the need to offset a tightening of the fiscal policy, and 2 - the nominal GDP growth for 2019–20, having been revised down from 3.25% to 1.7%, a reduction of 1.55%.
It pays to look at the facts, and that is a minimal requirement.
