Why the RBA’s perilous juggling act is just getting started
The Reserve Bank will be feeling its way through the dark, raising interest rates in the near term while trying to guess the impact of higher rates more than a year into the future.
The Reserve Bank’s big interest rate shift this week marks a turning point for Australia.
After more than 10 years of falling interest rates, the RBA has begun the long march away from extreme cash rate settings. This welcome – and arguably belated – development will have profound implications for homeowners, investor portfolios, business capital allocation and government budgets after years of ultra-cheap money.
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