Interest rate pain is now worse than in the ’90s – so how bad could it get?
The pain being inflicted on homeowners is comparatively worse than in the '90s. Photo: AAP
For years we’ve heard from older generations that the current interest rate pain is nothing compared to the horror of 17.5 per cent rates in the late ’80s and early ’90s.
But now, as the Reserve Bank delivers its fourth hike this year, analysis shows the pain being inflicted on homeowners is comparatively worse.
So, as the official cash rate hits a 15-year high of 4.6 per cent – how bad could it get?
Today, KPMG senior economist Terry Rawnsley discusses the chance of more interest rate hikes, the flow-on effects of this latest hit, and whether we should be looking at alternatives like tax hikes to get inflation under control.
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Guest: KPMG senior economist Terry Rawnsley
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