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Varoufakis accuses RBA rate hike of shifting income to profiteers
Original: # YanisVaroufakis screams the *Obvious* in this Guardian Article. The # RBA decision to hike up the # CashRate ‘is not a
Former Greek finance minister Yanis Varoufakis, writing in The Guardian, has attacked the Reserve Bank of Australia's decision to raise the cash rate, arguing it is not an anti-inflation policy but a cynical transfer of income from ordinary people who did not cause inflation to those profiting from it. His remarks are drawing attention among Australian readers debating the rate rise and who bears its costs.
Why now: The RBA's latest cash rate hike is prompting public debate over its impact on households and who benefits from higher rates.
Yanis VaroufakisReserve Bank of AustraliaThe Guardian
Evidence
- # YanisVaroufakis screams the *Obvious* in this Guardian Article. The # RBA decision to hike up the # CashRate ‘is not an anti-inflation policy. It is a cynical transfer of income from people who did not cause the problem to people who are, in fact, profiting handsomely from… · RaymondPierreL3@aus.social · 7
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