Why interest rate pain is now worse than the bad old days of 17.5%
· 16 min · Episode 2060
Episode Why interest rate pain is now worse than the bad old days of 17.5%
For years we’ve heard from older generations that the current interest rate pain is nothing compared to the horror of 17.5 per cent rates in the late ‘80s and early ‘90s.
But now, as the Reserve Bank delivers its fourth hike this year, analysis shows the pain being inflicted on homeowners is comparatively worse.
So, as the official cash rate hits a 15 year high of 4.6 percent – how bad could it get?
Today, KPMG senior economist Terry Rawnsley on the chance of more interest rate hikes, the flow on effects of this latest hit, and whether we should be looking at alternatives like tax hikes, to get inflation under control.
If you enjoy 7am, the best way you can support us is by making a contribution at 7ampodcast.com.au/support.
Socials: Stay in touch with us on Instagram
Guest: KPMG senior economist Terry Rawnsley
Photo: AAP Image/Sarah Wilson
See omnystudio.com/listener for privacy information.
Links in the notes 1
Transcript
Shows are listed from Apple Podcasts' charts and directory, and Podcast Index where it is used. Every show and episode belongs to its publisher and plays from the publisher's own feed; this site hosts none of them. Explicit shows are for adult profiles only, and children’s profiles hear only children’s shows. More about this list.