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High-net-worth balance sheets and a $4.8 trillion super pool are blunting RBA rate hikes, keeping consumer spending resilient despite 15-year interest rate highs.
The Reserve Bank raises interest rates to slow price growth, not to make prices fall. Here is why lower inflation does not mean a lower cost of living.
Australia’s central bank has raised the cash rate as inflation remains stubbornly above target. Softer household spending has yet to materially ease price pressures, leaving another increase likely before year-end.