RBA STANDS BY HIKES
Rising mortgage costs and high inflation could force some Australians to sell their homes, Reserve Bank governor Michele Bullock has acknowledged in a speech that’s dominating front pages this morning.
As The Sydney Morning Herald reports, Bullock “stood by the bank’s current interest rate settings, arguing that inflation pressures — particularly in home construction, insurance and the rental market — continued to be high in some parts of the economy”.
“If we don’t get inflation down, that’s bad for everyone, absolutely everyone. So that’s the job I’m focusing on. That’s the job the board is focusing on … I really think the board thinks at the moment, we’re still on that narrow path,” she said.
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