AFR: Interest rates going to 5645975.5%


Having been 100% wrong, 100% of the time, the AFR continues its interest rate scaremongering:

The Reserve Bank of Australia is “very alert” to the cost of stubbornly high inflation lingering in the economy, signalling interest rates will need to stay higher for longer and might have to go up to curb price rises.

The RBA board kept the cash rate on hold at 4.35 per cent on Tuesday, but added a hawkish tilt to its post-meeting statement, saying it would “remain vigilant to upside risks” following an acceleration in inflation.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.