The Reserve Bank\u2019s decision not to reduce interest rates will needlessly hurt mortgage holders and put more Australians out of work, the Greens say<\/p>\n\n\n\n
\u201cThe RBA\u2019s decision today increases pressure on Treasurer Jim Chalmers to step in and provide relief,\u201d Australian Greens Economic Justice spokesperson Nick McKim said.<\/p>\n\n\n\n
\u201cAustralian mortgage holders have done nothing to cause inflation yet they are being smashed by high interest rates.\u201d<\/p>\n\n\n\n
\u201cThere are any number of things Treasurer Jim Chalmers could do, but he is again just wringing his hands and doing his ashen-faced theatrical performance.\u201d<\/p>\n\n\n\n
\u201cLabor could put in place a excessive profits tax on corporations, freeze rents and make price gouging illegal. All of these things would actually put downward pressure on inflation.\u201d<\/p>\n\n\n\n
\u201cBut Labor\u2019s refusal to act means that the RBA feels compelled to leave interest rates higher for longer.\u201d <\/p>\n\n\n\n
\u201cThe Greens saved section 11 in the Reserve Bank Act precisely so the Treasurer of the day could override the RBA when necessary. Now is the time.\u201d<\/p>\n\n\n\n
\u201cHigh interest rates have no impact on international supply chains, climate change or wars on the other side of the world. What they do is harm people who have no responsibility for current rates of inflation.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The Reserve Bank\u2019s decision not to reduce interest rates will needlessly hurt mortgage holders and put more Australians out of work, the Greens say \u201cThe RBA\u2019s decision today increases pressure on Treasurer Jim Chalmers to step in and provide relief,\u201d Australian Greens Economic Justice spokesperson Nick McKim said. \u201cAustralian mortgage holders have done nothing to … Continue reading “RBA stubbornness hurting Australians”<\/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-30553","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\/30553","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=30553"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/30553\/revisions"}],"predecessor-version":[{"id":30554,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/30553\/revisions\/30554"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=30553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=30553"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=30553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}