Thursday, September 09, 2004

David Uren declares interest rates are not going up.

What can I say. David Uren doesn't have a clue about economics judging from this article in the News Ltd papers.

The best paragraph is this one "Interest rates have now been steady for nine months, and are likely to remain on hold for some months more following the Reserve Bank's decision, announced yesterday, to leave rates unchanged."

David, David, David. Interest rates were not change because, and you may not have noticed this, we are having an election in four weeks.

Despite the "Super of the Future" ads, Bernie Fraser has a pretty good understanding of interest rates and he says they are going up.

There are also plenty of other economists saying they are on the way up in the short term.

David, Look at your article. Government handing out money to all and sundry, homes loans going up again. Umm That would be inflationary wouldn't it.

David gets a vote for "Hack of 2004".


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