The RBA raises rates to a 15-year high, citing inflation risks as political debate over the causes intensifies.
The Reserve Bank has lifted interest rates to a 15-year high, adding pressure on borrowers as inflation remains above target. Hear why the RBA says rates needed to rise, the risks it is watching, and how Labor and the Coalition are blaming different forces for the decision.
In this episode:
- Why the RBA chose to raise the cash rate to 4.6% despite concerns about pressure on households and housing.
- The three key risks Governor Michele Bullock says pushed the board towards another rate increase.
- How the Middle East conflict, fuel prices and domestic capacity pressures feature in the inflation debate.
- Labor and the Coalition clash over whether inflation is being driven by global factors or government spending.
- What the latest rate rise could mean for mortgage holders, and why the possibility of further hikes remains in focus.
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