Heliograph5d ago

#apropos "#Borrowers are currently used as "shock absorbers" for Australia's financial system where variable-rate home loans dominate the market.The #ReserveBankAustralia acknowledged that the pain from their rate rise will be felt unevenly in the community."

oh really #rba ain't that the truth 😬  

https://www.abc.net.au/news/2026-03-19/should-banks-offer-30-year-fixed-rate-home-loans-new-report/106465276

Why don't Australian banks offer 30-year fixed-rate home loans?

A new report says Australian borrowers would benefit from 30-year fixed-rate home loans, and they should be made available.

Show threadHeliograph5d ago

more blurb on the topic but doesn't alter anything for that "unevenly affected community group" mentioned above :( #rbaFu

https://www.abc.net.au/news/2026-03-19/rba-interest-rates-inflation-demand-petrol-prices-explainer/106468646

Why did the RBA raise rates as households face petrol price double whammy?

This week's rate rise left ABC readers asking "how would hiking rates stop inflation caused by an unavoidable cost like petrol that's spiking due to a war on the other side of the world?"

Show threadHeliograph4d ago
and just adding - this will 100% be "trickling down" to renters - so mortages and rents will go up, while rich people will earn more money from higher savings interest  well done Australia, land of the *coughs* fair go
Show threadPhil Burg (he/him)4d ago
@Heliograph Same as it ever was 😔
Show threadHeliograph
@Standard_Phil they think we are completely stupid don't they  
Mar 19 at 5:14amWeb
Show threadPhil Burg (he/him)4d ago

@Heliograph Pretty much...fixing inflation structurally is hard and politically risky.

Better just to leave it up to monetary policy and make it the RBA's problem.