RBA's next interest rate movement should be downwards - or else
API Magazine columnist Michael Matusik has lambasted the Reserve Bank of Australia (RBA) for singling out borrowers as the scapegoat for high inflation and risking a recession.
Older generations who own their homes and are unaffected by rates rises are fuelling inflation at borrowers' expense. (Image source: Shutterstock.com)
Well, if you ask me the Board of the Reserve Bank Australia really does need a broom through the joint.
As we all know there was another 0.25 per cent lift in the Australian cash rate in May – making it 11 hikes in just 12 months – on some pretence that doing so will somehow reduce inflation
.Inflation isn’t being instigated by the consumer but largely by a range of ill-conceived government policies and actions.
And the May federal budget jus…
