There's at least another 3% to go before they reach the levels that were in place when Rudd came to power. I wonder if the Reserve will raise them in the middle of this year's Federal election like they did last time? Or will Ken Henry ensure it remains on hold during the election period.
Anyway, interest rates are on the rise regardless of the state of the domestic economy, because Rudd & Co are selling us into hock for 300 BILLION!!!! Bond prices, hence interest rates charged by banks, will continue to move higher regardless of what the official rates are.
