Consumers are concerned about inflation surging, have growing fears of a recession in Europe and are worried by warnings the RBA could lift interest rates at the fastest pace this century. swrighteconomy reports from Canberra RBA interestrates ...
Both major parties are heading into the May federal election with a larger than normal level of uncertainty about the economy.
Both major parties are heading into the May federal election with a larger than normal level of uncertainty about the economy. High inflation risks are already forcing central banks overseas into tightening ultra-easy monetary policy that has supported the world since the global financial crisis and through the COVID-19 recession.
The lift in consumer prices is driving economists’ and financial markets’ expectations about when and how quickly the RBA will lift interest rates.Financial markets are now pricing in a cash rate of 2.5 per cent by the middle of August next year, starting with a rate rise in July. The head of the United States Federal Reserve, Jerome Powell, signalled overnight America’s central bank – which lifted interest rates from zero last week – was prepared to lift rates much higher and faster than expected to deal with inflation pressures.
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