ALP "Gasometer" Countdown

What is your prediction then?

cost of living pressures are now through the roof.....average folk are struggling financially more than ever Hardly an Aust only problem. There a lot of King Canutes around the world - mostly in Oppositions. True - however are now lagging behind nearly all other Western Countries getting interest rate cuts. US / UK / NZ for starters. And the way we are travelling the prospect of getting one in the near future is becoming more remote

We were one of the last to raise them and consequently one of the last to reduce them. Not really surprising.

Mmm, there is that too PT. Thanks for reminding me 😀

And remember this Freefall?

9 Mar 2021 — The official cash rate will remain at historic lows until “at least 2024” because there is no prospect of wages growth hitting more than 3% before that time

This is the same clown show that has it's foot on the throat of the economy, holding down the govts election prospects with it.

Passing Through wrote:

This is the same clown show that has it's foot on the throat of the economy, holding down the govts election prospects with it.

Are you referring to the Independent RBA ? Wasn't the new Governor lauded as a breath of fresh air when appointed ?

And The Boys Light Up.... !

And I thought the acceptable range of 2 to 3% was in the public arena a while back

A figure of 3.2%......with momentum going back up.......hardly meets that criteria

And The Boys Light Up.... !

You referring to the trimmed mean figure that dropped from 3.5 to 3.2 this month?

Growth has flatlined. How many business have to go under and how many little battlers you wory so much about have to lose their jobs and homes before the RBA takes their foot off?

All because they fecked up so badly in 2021?

Passing Through wrote:

You referring to the trimmed mean figure that dropped from 3.5 to 3.2 this month?

Growth has flatlined. How many business have to go under and how many little battlers you wory so much about have to lose their jobs and homes before the RBA takes their foot off?

All because they fecked up so badly in 2021?

Since when is 3.2 less than 3 ?

And The Boys Light Up.... !

Too much Sky after dark and Angus and Susssssan pressers methinks oneone

Not to mention that the debt to GDP ratio is infinitely healthier than it was two years ago, or six years ago, or...

I hate USA auto correct. “Diarrhoea”

Instead of raising the cash rate to take the heat (spending) out of the economy (that really only affects those with mortgages and other variable rate loans) why not insist that any employee who pays superannuation has to pay an increased amount, “X%”.

“X” being the amount calculated to be equivalent in effect.

Then the pain is felt by almost everyone employed, but the cash taken out of the economy doesn’t end up on the banks’ bottom lines.

At the moment an increase in the cash rate doesn’t really affect me.

When the wheel turns and the RBA wants to reduce rates, allow those who have paid the extra to withdraw if they want to - tax free.

Happy for anyone to point out flaws in this proposition.

An increase in the cash rate increases the income of everyone with savings, interest bearing deposits etc meaning that as you say there is a disproportionate burden.

None if you are living off interest.