đź”— ROSS GITTINS: The RBA has squeezed us like a lemon, but it’s still not happy
Problems such as higher world petrol prices and higher insurance premiums caused by increased extreme weather events.
I’d like to see Bullock put up a big sign in the Reserve’s office: “If it’s not coming from demand, interest rates won’t fix it.”
Ross Gittins succinctly notes the disconnect in the Australian economy and the frustration of interest rates as a singular mechanism.
Mortgage holders, such as myself, have cut back and the data shows it. The problem is elsewhere, and so the solution must be also.