Hi rona RBA cash rate is used to control GDP growth/inflation
I believe that it was Keating who first discovered that he could manipulate interest rates for political purposes, at that point the RBA became almost irrelevant
The banks now appear to basically ignore the RBA and just adjust to what the market will stand
Hi UT
Yes people should know what they can afford and act accordingly -- but you have much more faith in your fellow man than I as a cynical person who has seen it all does
Just wait for the next downturn and see how many get caught short, unfortunately it will be far too many because they did not do what they should have known was prudent
