Internal documents from the Reserve Bank of Australia reveals impact of high rates ...Middle East

Bloomberg (gated) with the report on Reserve Bank of Australia internal documents showing how rising interest rates have impacted household and businesses. In brief:domestic tourism demand slipped from high levelsconsumers have continued to trade down to cheaper products, or purchased fewer items, due to cost-of-living pressures private sector wage growth appeared to have stabilized at “around” 4%community services organizations seeing ... “Cost‐of‐living pressures remain acute for their constituents”“More people than usual are seeking support from community services organizations, including wage earners and households with mortgages who have sought food support.”None of this should come

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