Remind me again why we have had amongst the highest rates in the world.
If higher rates represent a higher reward for risk, why is Australia considered such a high risk for foreign capital, that we need to pay a higher reward?
WW
Considering the wealth of this country we are the safest borrowers in the world and this is the reason why every1 is queueing up to lend us money.
Why then do we pay high interest rates?
It's a systemic problem which none has tackled before because it suits them. Both the government and the RBA often turn a blind eye to the exploitation of the system by the big 4.
I think we lost the battle when the CBA was sold off
so now us consumers have NONE to defend us.
Also, the so called independence of the RBA isn't working.
How can the board be independent when the majority of the members are also working for half a dozen other companies?
IMO we'll be better off having a government controlled RBA.
At least then we wouldn't have situations where economic and fiscal policies are conflicting with each other.
IMHO