ANALYSIS: Could the US banking crisis head off an Aussie mortgage disaster?
abc.net.au/news/federal-reserve-hikes-interest-rates-but-gives-rba-room-to-pause/102134130Never waste a crisis. It's a key tenet of politics, and a playbook the world's major central banks appear to be following.
While many economists divorced from the financial system continue urging central banks to keep aggressively hiking rates to slay inflation, the reality of US bank runs and collapses has forced a rethink. "We did consider that in the days running up to the meeting," Powell told reporters in a press conference after today's rate rise decision, referring to a period where the banking crisis threatened to spiral out of control."In fact, as of a couple of weeks ago, it looked like we'd have to raise rates over the course of the year more than we'd expected at the time of the December meeting.
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