Falling inflation shows the Reserve Bank has no justification to again raise interest rates next week, Greens Economic Justice spokesperson Senator Nick McKim says.<\/p>\n\n\n\n
\u201cToday\u2019s figures are the strongest indication yet that inflation has peaked.\u201d<\/p>\n\n\n\n
\u201cFor months the RBA has used the spectre of a wage-price spiral to justify repeated and unnecessary rate hikes,\u201d Senator McKim said.<\/p>\n\n\n\n
\u201cThat spectre has now been banished.\u201d<\/p>\n\n\n\n
\u201cBy the RBA\u2019s own admission current high inflation was always a supply side problem.\u201d<\/p>\n\n\n\n
\u201cRate rises were never the right tool to tackle this bout of inflation.\u201d<\/p>\n\n\n\n
\u201cAnd now that inflation is coming down, the rate rises must stop.\u201d<\/p>\n\n\n\n
\u201cThe RBA, aided and abetted by a do-nothing Labor Government, has inflicted massive pain on renters and mortgage holders with this unnecessary rate hike cycle.\u201d<\/p>\n\n\n\n
\u201cNext week we will see if the RBA is finally prepared to act in the best interests of Australians instead of blindly following the rest of the world towards a recession.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Falling inflation shows the Reserve Bank has no justification to again raise interest rates next week, Greens Economic Justice spokesperson Senator Nick McKim says. \u201cToday\u2019s figures are the strongest indication yet that inflation has peaked.\u201d \u201cFor months the RBA has used the spectre of a wage-price spiral to justify repeated and unnecessary rate hikes,\u201d Senator … Continue reading “INFLATION FIGURES SHOW THERE IS NO NEED FOR MORE RATE RISES”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-20854","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/20854","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=20854"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/20854\/revisions"}],"predecessor-version":[{"id":20855,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/20854\/revisions\/20855"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=20854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=20854"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=20854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}