The head of the Reserve Bank has warned the cost of living crisis will continue to escalate and it is possible inflation could blow out to seven per cent this year. 7NEWS
The head of the Reserve Bank has warned the cost of living crisis will continue to escalate and it’s possible inflation could blow out to seven per cent this year.
“It’s unclear at the moment how far interest rates will need to go up to get that,” he told ABC’s 7:30 program on Tuesday night. That would mean a household with a million-dollar mortgage would have to pay more than $1,000 a month extra than they were just a few weeks ago.
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