Why lifting interest rates won’t address inflation - and will hit battlers hardest

“The RBA and all central banks are between a rock and hard place,” Alex Joiner, chief economist at IFM Investors, told 7NEWS.com.au.

The Commonwealth Bank followed on Wednesday, increasing its home loan variable interest rates by 0.50 per cent from June 17. High costs of petrol, energy and groceries hitting Australians are unlikely to be brought down by increasing interest rates. “You’re getting people to pull back their spending on discretionary retail and their bills and things like that, and forcing them to pay more interest to a bank on their home loan.

If the bank fails in that end, and pushes demand “down too much, well that’s a bad outcome”, he said. “I don’t think a half a per cent is going to put many people in trouble, given that we’ve had a reasonable tightening of credential standards,” he told 7NEWS.com.au.

Blame the LNP Coalition federal government for 9 years

Australian media and institutions are a disgrace for lying and spreading misinformation that this wouldn't happen when the writing was on the wall, they should all be punished for misleading Australians

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