Interest rates rise while inflation remains stubborn. What can the government do? | ABC NEWS
The Reserve Bank of Australia has raised interest rates, taking the cash rate to its highest in 15-years to 4.6 per cent. It comes as underlying inflation remains stubborn at 3.6 per cent.
Economist Saul Eslake says the government has to “stop putting money in people’s bank accounts in the name of cost-of-living relief”. He says the measures are thwarting the Reserve Bank’s intention to reduce growth in domestic spending.
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