The thing is…interest rates SHOULD be lower.
The reserve bank “independence” is the problem… because it lets the people-elected govt blame someone else.
Inflation is the biggest crime against the people.
Reserve banks should step back.
They should let interest rates fall back toward zero.
@
See the last five minutes of this:
(Gary Stevenson is a legend …but he seems reluctant to blame the people who need to be blamed because he has extracted £5m+ from the system he seems to hate so much)
https://x.com/garyseconomics/status/1917241144532172938?s=46&t=4GXQezLCTz4c9vehe5x4tw