RBA rates up 0.25% so it's 0.35%

[Bobby]

News just in -

the rates have gone up today.

rates up 0.25% so it's now 0.35%

[Bobby]

https://www.moneymanagement.com.au/news ... e-11-years



RBA makes first rate rise in 11 years

By Liam Cormican

3 May 2022
INDUSTRY NEWS

The Reserve Bank of Australia (RBA) has raised interest rates by 25 basis points to 0.35%, the first increase in 11 years.

The board judged that now was the right time to begin withdrawing some of the extraordinary monetary support that was put in place to help the Australian economy during the pandemic.

“The economy has proven to be resilient and inflation has picked up more quickly, and to a higher level, than was expected,” the RBA said in a statement.

[Jim Lahey]

Wonder if people with house of cards real estate empires will be feeling sweaty?

[Bobby]

Wonder if people with house of cards real estate empires will be feeling sweaty?

They will try to jack up rent prices to pay for it.

[Jim Lahey]

Lucky I don't rent then lol

[Bobby]

Lucky I don't rent then lol

Here's hoping you don't have a 600k mortgage over your head.

[Jim Lahey]

Lucky I don't rent then lol

Here's hoping you don't have a 600k mortgage over your head.

Nope, mortgage all paid off.

property empire parasites can fuck off!

[Jovial Monk]

Higher interest rates could mean a higher $A, not good for farmers.

[Bobby]

I listened to lots of TV and radio news.
Not once was money printing mentioned.

That is what has caused the inflation.
It boosted house prices by over 20% and
did the same for share prices.
People borrowed too much money to buy houses
and they even borrowed to buy shares.
All the economy is pumped up on printed money.

[lisa jones]

Wonder if people with house of cards real estate empires will be feeling sweaty?

They will try to jack up rent prices to pay for it.

Yep.