Official interest rates and whether you like them going up or not
At present I rent and can't afford to buy property because during the p(l)andemic here property prices have gone up close to 50 percent in two years. So I want interest rates to come up - a lot - to force the property market to 'crash' and make prices come back down to a level that pegs in with inflation over the longer term.
A few years ago they were around 5 percent, now they are close to zero so bank rates are about 1 to 2 pct. In the 1980's they were like 15+ percent, and even in the 90's they were around 10 percent. Accessing finance has become so cheap that people are 'drunk' on the almost 'free' finance that's currently around.
https://www.smh.com.au/business/the-economy/the-question-on-every-borrower-s-mind-how-high-will-interest-rates-go-20220325-p5a80g.html
A few years ago they were around 5 percent, now they are close to zero so bank rates are about 1 to 2 pct. In the 1980's they were like 15+ percent, and even in the 90's they were around 10 percent. Accessing finance has become so cheap that people are 'drunk' on the almost 'free' finance that's currently around.
https://www.smh.com.au/business/the-economy/the-question-on-every-borrower-s-mind-how-high-will-interest-rates-go-20220325-p5a80g.html
46-50, F
