This bloke and his mob seem to have no bloody idea.

Not so long ago, they assured Australians rates would not rise before 2024.

Of course, they did.

Now, the prick and his mates still don't know.

Link.


Quote:

"There is a risk that we've gone too far and don't need to do anymore, that the economy will slow more than we expect," Dr Lowe told a parliamentary hearing on Friday. "But there's also a risk that we haven't done enough, that inflation proves more persistent and doesn't come down. And our job is to try and balance those."

Aren't these blokes supposed to know at least with some degree of certainty and not sit, as they are, on the fence with two bob each way.

Jayzuz!

>:(

Aussie wrote on Feb 17^th, 2023 at 4:16pm:

This bloke and his mob seem to have no bloody idea. Not so long ago, they assured Australians rates would not rise before 2024. Of course, they did. Now, the prick and his mates still don't know. Link. Quote: "There is a risk that we've gone too far and don't need to do anymore, that the economy will slow more than we expect," Dr Lowe told a parliamentary hearing on Friday. "But there's also a risk that we haven't done enough, that inflation proves more persistent and doesn't come down. And our job is to try and balance those." Aren't these blokes supposed to know at least with some degree of certainty and not sit, as they are, on the fence with two bob each way. Jayzuz! >:(

From your link:

Key points:

• The RBA governor says interest-rate rises are hurting many households

• But he says inflation is too high and that means more rate rises are on the cards this year

• The RBA says more people could fall into negative equity

👆 They’re referring to the sheeple who jumped in the lower end of the real estate market and bought cheap homes on small blocks outside of Sydney.

Essentially if you bought a freestanding house on its own block (no battle axe) and that home is within a 40 minute drive from Sydney’s CBD you’ll be fine. Properties within that range are still making money. Of course the further out the less % increase in value over time. Homes where we live are still selling at ridiculous prices. Young couples buying into our area are highly educated DINKs in their mid 30’s and come from money (usually Chinese and/or European). Land value here is $2.5 million for a small block. Typical example : 500m2 and an old house sitting on it that’s ready to rent out or bulldoze.

Note 1 : I don’t/can’t comment about Melbourne or Brisbane as I don’t follow those markets. Sorry Aussie and Sophia but the real estate markets in these areas tend to be weaker anyway.

Note 2 : Likewise I never comment about home units, villas or townhouses or even duplexes. The market for these (irrespective of location) are unstable and weak. You will never make much money buying these types of dwellings because strata fees plus sinking funds etc are seriously expensive pain points nowadays and together with slow capital growth AND rising interest rates cause new home owners a lot of suffering/bankruptcy.

Another thing : Lowe never officially promised anything to anyone. He merely stated his opinion when asked. And that’s all anyone in his position CAN do. He himself is guided by what the government in office does. And says.

Cheers

$2.5m for a small block in the wastelands of Western Sydney. LOL!

How can you know with certainty about the Australian Economy when it is basically run by the USA's and supported by every Prime Minister - who's job is to keep this country 'weaker' than the USA's?
Oh, except Rudd. He favoured China more.

This appears nowhere else in the news:

https://www.onenation.org.au/rba-admits-printing-money-caused-inflation?utm_campaign=rba_admission&utm_medium=email&utm_source=onenation


Dr. Lowe clarified that the Reserve Bank did not create money at the government's request.
Hard to accept, but that was his response. However, the Governor admitted, in terms, that while it wasn’t directed he print money the cash creation was in response to the government’s actions during the early stages of COVID management of destroying our economy, closing the borders and shutting down businesses. If the economy wasn’t in the drain because Scomo & Co told us we had to hide in the cupboard then RBA wouldn’t have printed. A startling admission indeed.


The board of the Reserve Bank consisting of nine individuals decided to create money, he informed the committee, and they had meetings with the government. Most Australians would be shocked if at those meetings the government didn’t pressure the bank to print money, but that fight for accountability remains ongoing.