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RBA needs to hit pause on rate rises

Greens Treasury spokesperson, Senator Nick McKim, has responded to the news of steep falls in house prices ahead of tomorrow’s RBA meeting.

“The RBA needs to hit pause."

“Inflation is being driven by supply side shocks and corporate profiteering.

“Jacking up interest rates will not fix these problems.

“The RBA needs to be honest about this with the Australian public.

“Monetary policy cannot curb inflation without punishing workers, renters and new homeowners, none of whom are the cause of the problem.

“They should not increase rates tomorrow.

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