About this episode
Yesterday afternoon, the Reserve Bank of Australia lifted rates for the third time in three months – raising the cash rate by a full 50 basis points to 1.35%.
The rise will lift interest rates to their highest levels in years and put more pressure on household budgets, but it’s something the RBA says is necessary to bring down inflation.
However, the RBA’s decision comes just as questions are being asked about how the institution is working, and whether it’s acted too slowly in the past.
Today, national correspondent for The Saturday Paper Mike Seccombe on why the Reserve Bank is so secretive, and the push to change it.
Guest: National correspondent for The Saturday Paper, Mike Seccombe.
See omnystudio.com/listener for privacy information.
Get every episode summarized
Each time 7am publishes, we email you a written briefing from the transcript — the topics, who appeared, and any specific claims, with the ad reads skipped.
Email me new episodesFree for 3 shows. No card needed.
No transcript yet
This episode has not been transcribed. Request it and it moves to the front of the queue.
More episodes
More from 7am
“Nerd Reich”: Are big tech billionaires at war with democracy?
7am
Why Jacqui Lambie’s not done fighting veteran health caps
7am
Why are the conservative parties suddenly obsessed with super?
7am
The far right is winning. Could Australia’s neo-Nazis be next?
7am