The central bank lifted its cash rate by a quarter of a percentage point to 4.5 per cent, its highest level since the end of 2008. The move was tipped by a majority of economists after surges in consumer price inflation and house prices in the March quarter.
An interesting comment wsa made on one of the related chat pages, by someone suggesting foreign buyers are pushing up house prices - "Interest rate rises only punish hard working (Australian) families - they don't deter overseas buyers because they don't borrow here". And indeed they make it more attractive to put their money into Australia.
No comments:
Post a Comment