John Symond explains why the RBA raised interest rates this week

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Uploaded by on Oct 8, 2009

John explains that the RBA has decided that interest rates need to be lifted, having regard to the performance of the Australian economy compared to anywhere else around the world, Australia has done very well. The emergency interest rates, as referred to by the Government and the Reserve Bank, are at historic 49 year lows. Theyve decided that those emergency low rates no linger need to be set. Theyve decided that rates now need to gradually go up.

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  • So Johnny boy, explain why you lifted the rate on my Aussie Mastercard BEFORE the crash... but didn't bring it down again DURING the crash?? But you still only rip me of half as much as Westpac, so you're still a good bloke.

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  • well duhh, however its good that the RBA are doing theyre job

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