ANALYSIS: The RBA's sobering warning about the months ahead
The first indication for some months that the US Federal Reserve might be achieving its goal of taming inflation is starting to emerge.abc.net.au/news/interest-rates-inflation-cost-of-living-rent-recession-jobs/101644638There's an old saying that central banks will raise interest rates in their fight against inflation "until something breaks".
The latest data from the United States has given us the first indication, for some months, that the US Federal Reserve might be achieving its goal of taming inflation. The consumer price index increased 0.4 per cent last month and 7.7 per cent from a year ago, both lower than estimates, and down from the peak in inflation so far.
The damage of the second most aggressive interest rate tightening cycle in Australia's history is moving beyond the financial markets. How widespread the economic damage becomes depends on how high the Reserve Bank is prepared to raise its cash rate.
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