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Varoufakis says Australia's rate rise is the wrong medicine
Original: Australia’s interest rate rise is the wrong medicine and an even worse alibi | Yanis Varoufakis
Former Greek finance minister Yanis Varoufakis argues in the Guardian that Australia's latest interest rate rise is both misguided economics and a political excuse. He contends the hike will punish borrowers without addressing the real drivers of inflation, while serving governments as an alibi for failing cost-of-living policies. The piece adds a prominent left-leaning voice to debate over the Reserve Bank's tightening cycle.
Why now: Australia's central bank has raised rates again, prompting a contested public debate about whether higher rates are the right response to inflation.
Yanis VaroufakisAustraliaReserve Bank of AustraliaThe Guardian
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- Australia’s interest rate rise is the wrong medicine and an even worse alibi | Yanis Varoufakis · The Guardian
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