WENDELL HUSSEY | Cadet | Contact
The Reserve Bank of Australia has finally given the nation a bit of clarity on what’s the plan with interest rates.
After announcing yesterday afternoon that they would be leaving rates on hold, RBA Governor Michelle Bullock has revealed when she and her organisation will be lowering the magic number.
Speaking exclusively to The Advocate a short time ago, Bullock explained that the rough plan is to lower the cash rate in May 2025.
“Yeah, so basically we are assuming that Labor will get booted in a March election next year, and then the first meeting we’ll have after that we’ll lower interest rates,” explained Bullock.
Bullock’s comments follows a big couple of years of interest rate rises, which started a fortnight before Anthony Albanese won the un-losable election against the dying throes of Scott Morrison and have gone up 11 more times in the subsequent government term.
The projected lowering which is set to suspiciously occur after Labor is booted, comes despite all the magic numbers on inflation and the like being good to go for the last couple of RBA meetings.
The lowering of interest rates will of course be signalled as a huge win for the ‘great economic managers’ of our country, who still seem to think we can just dig shit out of the ground and be profitable in a modern economy.
When asked about the suspicious timings of the rate movements, Bullock laughed.
“The RBA is completely seperate from politics,” said Bullock.
“Besides, interest rates are the only thing we have control of.”
“If the government doesn’t want to do anything to stop power companies price gouging, supermarkets fucking over customers and farmers alike, or the housing bubble – then that’s on them.”
“Sure it looks like an absolute free-hit for the Opposition, but you guys should know by now we just move numbers around spreadsheets to hit the numbers we were told about at uni.”
“It’s not motivated by anything.”
More to come.
