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@HardBeingGreen@theblower.au

Post #2173539

2026-05-05 21:50 UTC

It's kind of ridiculous that the RBA has now lifted interest rates 3 times this year at the same time fuel prices are higher and that's starting to flow through to grocery prices etc I feel bad for them in that it's the only tool they have and the rules they work under effectively forced their hand. I feel worse for people, especially young families, already struggling to make ends meet with the cost of living through the roof and salaries not keeping up The budget next week really needs to do some of the heavy lifting rather than leaving it all to the RBA imo #auspol

Replies (4)

  • @tubsta@social.bsdlab.au 2026-05-05 22:18

    @HardBeingGreen@theblower.au It is a shit tool that should be dumped on the scrap heap as it doesn't affect all of the expenditure in the economy. There are a lot of people out there with no mortgage spending like its 1999 causing the inflationary issues. Mortgage holders are spending the bare minimum and doing the heavy lifting for others.

    Open ##2391158

  • @smitjo@mastodon.au 2026-05-05 22:32

    @HardBeingGreen@theblower.au yep, I struggle to see how the RBA is making the right decisions on this. If the economy is overheating, and that seems highly questionable, Government should be applying the brakes in a more equitable way.

    Open ##2391166

  • @mosen@hachyderm.io 2026-05-05 22:51

    @HardBeingGreen@theblower.au I see the problem politically: the government sometimes needs to axe subsidy/incentive schemes if they are inflationary but it’s wildly unpopular, so the RBA can wear the negativity without any votes lost by the government of the day. Dunno how you would solve this, but I don’t think removing the banks independence would be a good thing.

    Open ##2391172

  • @Old_IT_geek@techhub.social 2026-05-05 23:27

    @HardBeingGreen@theblower.au The RBA wants two things, a recession and a cut in wages. Recession to increase unemployment and drive out a lot of small businesses. Reduced wages because that would increase productivity (reducing cost of inputs for the same outputs).

    Open ##2391174