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Prest0n 3 May2023(TIE)According to the Premier, the RBA’s attempt to tackle rising inflation has been ineffective and is instead exacerbating financial difficulties for families in Victoria.
He stated, “I’m not sure that these interest rate rises are effectively controlling inflation. However, I am certain that these interest rate hikes are causing significant distress for families. I am certain that they are creating many other problems. Numerous families are currently under immense pressure.”
Many individuals borrowed money in good faith, with the expectation that interest rates would remain stable. However, they have increased eleven times in the past twelve months, leading to significant pain. The Premier added that the issue with such policy measures is that one does not know they have gone too far until it is too late.
