The Pain is the Plan
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The Reserve Bank of Australia Raised Interest Rates for the 9th Time in a Row
On Tuesday, the Reserve Bank of Australia raised interest rates for the ninth time in a row. The official cash rate is now 3.35% and the RBA Governor flagged that there may be more rate rises to come. But is raising interest rates the best way to tame inflation? How do these interest rate rises impact the rest of the economy, in particular, people with mortgages? To explain what's going on, I'm joined by Matt Grudnoff, senior economist at the Australia Institute.
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