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    RBA Interest Rates Decision - Raised from 4.35% to 4.60% (increase of 0.25%)
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    RBA Interest Rates Decision – Raised from 4.35% to 4.60% (increase of 0.25%)

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    35 Comments

    1. DisappointedQuokka on

      I’m begging the government to actually do something and not leave inflation to the RBA.

      This does nothing to stop the people who have wealth from spending money.

    2. Flybuys on

      Nippy. Kind. Langur.

      Not surprised, just drain me dry and use my dessicated husk as a door stop or something. Fuck your economy (I’m not bitter at all).

    4. louisat89 on

      GREAT. This is what we all needed. The people with money get more of it from interest. They can also grab more on their rent income with this excuse and meanwhile I bought half a head of cabbage for $5 and a block of butter for $10. So it’s just freaking greaaaaaat…..

    5. WearyFHB on

      Unanimous decision from the RBA.

      They’re mainly worried about higher fuel prices from the Middle East conflict and AI-driven demand pushing up technology prices. I’m sure the right wing media will try to blame it on government spending though.

    7. clarky2481 on

      Lets flog young families with a mortgage even harder, that’ll slow down government spending…

      Fiscal policy is just as important in managing inflation as monetary policy, the RBA’s just an easy scapegoat.

    9. rare_snark on

      At what point do they stop and say this isn’t working. I don’t understand the economy but I understand that those of us with mortgages aren’t spending outside the essentials but are being punished for those that do.

      When is there a shift, I mean everyone has their breaking point. What point are they hoping to get us to before we break.

      I spent $290 to fill up with diesel today
      $400 on a weekly shop with budgeting and mostly home brand products/products on special
      Add to that power, rego, insurances that have all increased. I’m not the problem.

    11. hesback_inpogform on

      I’m meant to be going on maternity leave in February and was looking forward to my well earned year off work to enjoy my baby after 12 years of waiting to have said baby after my previous infant loss.

      Now it’s looking more and more like I’ll have to go back to work after 6 months coz my work doesn’t have mat leave payment and we simply can’t afford to be on one wage for that long without blowing our savings. It’s a first world problem, but still. I’m sad 🙁

    13. Mr-Lungu on

      Inflation is imported. This is high fuel and high fertiliser prices. Putting up rates causes high unemployment. And it ain’t doing a damn thing about Mango Man’s dumb war.
      This is not a smart move

    14. WeissPyre on

      Hooray, the cashed up boomers that are contributing to inflation get given even more money to drive it up further as they gallivant across Australia with their caravan + Land Cruiser convoy, their plans completely unchanged. 

      Mortgage holders and renters get shafted, because we’re apparently not being enough of a hermit yet. No fun for us allowed! 

      Bullshit that one orange haired, demented toddler and his puppet master on the other side of the world have also caused a lot of this, and that not a single bastard is willing to stop them.

      This is so infuriating. 

    16. jb_86 on

      I really feel for those struggling and worse off than I am. It sucks because as others have said, when it comes to things like fuel, that’s outside of our control. We’ll still all need to buy it.
      My extra repayments on my mortgage will be only $25 extra per fortnight. With that said it all adds up.

    17. Ok_Acanthaceae6057 on

      3 years now they have been raising interest rates, you’d think the government have other leavers to pull.

    19. Krunksicle on

      The comments criticizing Albo and Labor over this are getting downvoted but they’re objectively correct – the inflation is not being caused by anything the RBA can influence, but the government claims the RBA is their only lever against inflation (it isn’t).

      At the end of the day the government’s inaction over the real causes of inflation (supermarket price gouging, the US/Israeli dumpster fire in Iran, elderly wealthy retirees who have no loans) is only going to make this problem worse, and they’re choking working generations and their families through that inaction.

      At the end of the day, if they keep leaning on the RBA instead of doing anything, inflation will continue unabated and so will interest rates.

    20. Craneit1 on

      They quoted live:

      Best rate out is currently is 5.9%

      First home buyers should aim for rates at 6.25% or below

      Average rate now is: 6.49%

    21. HotScheme4074 on

      This won’t change anything. Mortgage holders aren’t the ones driving demand. The young people who have given up and the old and wealthy who already own their homes outright won’t be impacted by this. In fact, the wealthy who are driving demand will actually get MORE from savings.

      It’s the wrong lever. It isn’t working, ask for a new one.

    23. perthguppy on

      I wonder if banks will ever have the guts to increase interest rates on regular transaction accounts. They used to earn interest once upon a time. Now it seems interest rates are reserved for special savings accounts.

      I still have a NAB “NetSaver” account that earned 6% interest when I opened it in 2004. It used to track the RBA rate, but I don’t think it’s earned any interest in at least a decade now. (Edit: just checked, it has a 1.65% interest rate lmao)

    25. frankiestree on

      RBA – If people can’t afford a roof over their heads then they’ll top spending so much money on inflated groceries and petrol

    28. Presence_Present on

      RBA are completely inept. Absolute dumbasses, does nothing to solve anything besides punish more standard living.

    29. LoathsomeCheeseEater on

      I don’t get why Labor is getting so much shit for this. Historically interest rates sit at an average of 6%, and the period of 0 to 2% interest rates following the GFC are an anomaly.

      Besides which, it’s not like Jim Chalmers is personally holding the fucking Straight of Hormuz closed with his own two bare hands. I think people are just bitching and salty over capital gains because they’re so butthurt over the prospect of actually having to pay tax on their investment income like everyone else.

    31. neverbeentonyc on

      How much further will people be pushed? Seriously. Middle income earners are struggling, and those below the poverty line are barely hanging on.

    34. cuntassaurusrex on

      Fml.

      Finally managed to scrape together enough money to build a house (not in the city because couldn’t afford anywhere so literally did what the boomers scream about and moved away to afford something).

      Got stuck in a construction loan that copped every rate rise because the builder went under and I was stuck waiting on VMIA to assess my claim and let me continue the build with someone else and I apparently couldn’t do anything about my loan except keep paying it and rent at the same time for months and months when I should have been moving in 🙃

      Now the rates just keep rising and I’m stuck in a weird space of do I lock in a fixed shitty rate or cross my fingers every RBA meeting and hope no rise or a cut happens 🙃

      God I hate it here.

      But also I AM super lucky to have secured a house of my own when many others are stuck renting or homeless. Even if I can’t afford to eat every meal of the day now and sometimes I wear two pairs of socks with holes and hope they overlap perfectly so they equal one non holey sock because I can’t afford to buy new ones.

    35. AppointmentSorry1487 on

      I haven’t had my mortgage for even a month and I’ve got my first interest rate rise! Exciting times.