Bernard Hickey
speaker
288 appearances
1 recordings
1 series
first heard Jul 2026
last heard 12 Jul
Bernard Hickey’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
So that means the government, councils.
And also all of those parts of the economy where there are monopolies or duopolies.
Yeah, it's always been a blunt instrument, but it's extra blunt right now.
And if you're one of those people who maybe have been unemployed for a while or you need to change your job or maybe your business is struggling or whatever, it's going to feel tough because you're the one that's getting whacked.
Those monopolies and duopolies and the Iranian Revolutionary Guard do not care what the Reserve Bank is doing.
They're going to do their thing.
But for those people who are exposed to it through mortgage rates, through term deposits, or maybe because they're an exporter or an importer, they're the ones who are going to feel it.
And it often doesn't feel fair.
particularly if you're one of the unlucky generation who happened to have graduated, maybe not got a job or not the job you wanted in the last three or four years, and now you're stuck with the Reserve Bank putting up interest rates.
And then from a broader political point of view, if you're the government,
and you campaigned on getting interest rates down and getting inflation under control, and then the Reserve Bank starts putting up interest rates, potentially three times before the election, you might be thinking, oh, that's a bit tough.
So is a few people unhappy with the Reserve Bank?
Mind you, those people who have term deposits, yay!
Yeah, and that's one of the extra blunty bits of the blunt instrument.
Not only does a bunch of the economy not get affected by the Reserve Bank's official cash rate, but then those who could be affected, the ones who would be on floating rate mortgages, like in Australia, for example, most people are on floating rate mortgages, but here most people are on fixed.
And so that delays the impact.
It means that the Reserve Bank have an even longer horizon to look over and
They're really trying to drive a car that's got the windscreen wipers going back and forth and sometimes they have to look in the rear-vision mirror and there's a lot of cloud and dust out in front and they're having to look down the other end of the road.
It's tough.
And when you have so many people on fixed-rate mortgages, you know, you turn the wheel and not much happens very quickly.
Showing 41–60 of 288 · page 3 of 15
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