RBA Fights Inflation with Rate Hikes, Risking Jobs as Prices Rise
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Inflation is the increase in prices over time. The RBA aims for 2-3% inflation to support economic growth.
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High inflation erodes your purchasing power. The RBA is aggressively hiking interest rates to control inflation.
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High employment can fuel inflation. Rate hikes aim to reduce spending and demand. But job losses hurt families.
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Global factors like oil prices are raising costs. Rate hikes don't address housing shortages.
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Population growth from migration increases demand. This puts pressure on housing and infrastructure.