The 0.25% rate cut today confirms that the Morrison Government’s sky-high inflation is finally under control. Labor didn’t create this problem, but if the polls in the mortgage belt are an indication, it seems that plenty blame them anyway. - ThreadSky

aaronsmith333.bsky.social • 5 days ago

The 0.25% rate cut today confirms that the Morrison Government’s sky-high inflation is finally under control.

Labor didn’t create this problem, but if the polls in the mortgage belt are an indication, it seems that plenty blame them anyway.

Comments

juliankeil.bsky.social•5 days ago

From what I could see it was a forgone conclusion, markets had already slashed IR on various products (some by considerably more than the .25%)

Eyes to the budget now and how it might address the lethargy in private investment that the RBA highlighted.

ktuena.bsky.social•5 days ago

It is amazing how many people blame inflation/ housing problems on the current government, rather than attempt to understand how world issues and poor policy over the last decade and even longer have led us to this point.

jayjaybee52.bsky.social•5 days ago

The mortgage belt feels the pain but don't know/don't want to know the cause or who caused it.

aaronsmith333.bsky.social•5 days ago

Indeed, and it's a lot of pain. Simplistic solutions to complex problems are appealing, but not helpful.

jayjaybee52.bsky.social•5 days ago

but they're an LNP speciality

olthwaiteeric.bsky.social•5 days ago

I read a bit on polling today that said less than 25% of respondents thought inflation would be lower under the COALition.

Green shoots

madmickyf.bsky.social•5 days ago

They blame Labor because the commercial media, in particular News Corpse, tell them it's all Labor's fault. When was the last time a commercial media outlet raised the issue of JobKeeper & how it was deliberately rorted by the LNP? All those millions to Harvey Norman etc. caused the high inflation.

el-duderino-2nd.bsky.social•4 days ago

The problem is, is that it takes a few months of high inflation before the RBA raises interest rates. Then it takes several more months for people to start to feel it.

By that time, they look at the gov and see Labor in power. Nothing anyone says will convince them the problem started earlier.

serendipidude.bsky.social•5 days ago

@australianlabor.bsky.social rarely correct the record.

LNP will never not refer to it as Labor’s problem.

Labor fail every opportunity to refer to it as the problem created by LNP asleep at the wheel for 9 years.

No wonder Labor losing the polls. Every time.

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