Rich Harvey
speaker
1,863 appearances
17 recordings
1 series
first heard Jan 2022
last heard Oct 2022
Rich Harvey’s voice in public audio — every appearance, attributed to the second.
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Appearances
Thanks, Craig.
Yep, getting ready for some inspections on the weekend and hopefully looking forward to dodging some rain on the weekend too.
Good morning, Craig.
Yes, it certainly is.
I mean, we've had this week the Federal Reserve Bank in the US jack rates up by a record 0.75% in one month.
Inflation is pretty out of control there, but it's a very topical subject right here throughout Australia.
It certainly did.
I mean, the RBA had said there's going to be no interest rate rises until at least 2024.
And then they changed their tune and they've lifted rates 0.25 in May and 0.5% this month in June.
And that takes the cash rate now to 0.85%.
So it's a lot sooner than they originally indicated.
And it's simply because there's been a spike in inflation.
There's huge supply chain issues.
which has become deeply embedded right across the world, and it's jacked up the prices of a lot of goods and services.
It's a lot of, obviously, related to COVID-related shortages that we're seeing in the supermarket.
But of course, the Russia-Ukraine war is having a major impact on petrol and oil prices.
And
that's really inspired inflation to get above almost 5% in Australia.
But on the positive side, rising interest rates, Craig, is actually a good thing.
It shows that the economy is firing again.
Showing 701–720 of 1,863 · page 36 of 94
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