Economists surprised by interest rate hike

Most economists were predicting a further hold on Interest rates and were wrongfooted by Govenor Philip Lowe’s RBA Board decision.

There now seems to be a groundswell of pushback as those already crunched by interest rates are becoming more and more desperate.  It also makes the budget for Treasurer Jim Chalmers an even more diabolical equation.

Image: Image: Courtesy R Chambers

Produced By: Roderick Chambers

Featured In Story: Tim Harcourt Industry Professor and Chief Economist at the Institute for Public Policy and Governance at the University of Technology Sydney

First aired on The Wire, Wednesday 3 May 2023