Sky News Business Editor Ross Greenwood says Australians have got an “ability and a capacity” to spend money despite interest rate rises and the current cost of living crisis.
2 minutes ago
“The interest rate rises so far have not caught up with that spending, largely because they’ve got pools of savings,” Mr Greenwood told Sky News Australia. “The question is when do these interest rate rises, when do the price rises catch up with the household, with the business community, and when do we start to see some type of downturn? The Reserve Bank, at this stage, thinks it’s later this year.”
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