Greens call on Reserve Bank to ‘pause’ interest rates until after budget | Anthony Galloway
The Greens have called on the Reserve Bank of Australia to put interest rate rises on hold until after next month’s budget, accusing the central bank of inducing people into taking out unaffordable home loans.
More increases are expected this year, with financial markets pricing in a cash rate of 4 per cent by the middle of 2023. Greens economic justice spokesperson Senator Nick McKim suggested RBA governor Philip Lowe misled Australia when the bank said last year that interest rates“Hundreds of thousands of people were induced into taking on massive debts on this basis,” McKim said.
He said the RBA should now “hit a pause” on interest rates until the October budget to put pressure on the government.
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