The Forum > General Discussion > The Reserve Bank and Kev '07 Must Find Other Levers to Pull.
The Reserve Bank and Kev '07 Must Find Other Levers to Pull.
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We have a two speed economy whereby an upper middle class have so much wealth that rates will not affect them and the masses who are struggling to pay the mortage on often over inflated house prices.
If rates continue to rise,then we in NSW are looking at recession and the rest of the country may follow.
Kevin Rudd is stepping up to the plate by reducing Govt spending,however much of this inflation is driven by fuel/food price increases by the food/fuel oligopolies such as Caltex/Woollies and not by consumer demand.
Rather than across the board sledge hammer reactions,both Kevin and the RBA need to target the source of the inflation.