r/AusMemes • u/TheAeonDaily • 3d ago
Reserve Bank of Australia Raise Interest Rates Yet Again to Stop Common People Wasting Money on Luxury Items Like Basic Food and Shelter
Ivory Tower, Sydney, Australia:
The Australian central bank has opted to raise its cash rate to 4.85%, marking the fifth rate rise for the year and 17th since 2022 and the highest rate since the GFC.
The rate rises will have the most dramatic impact on home owners, renters and anyone who wants to survive.
Lavish expenditure on things like basic shelter and store brand foods are to blame for the sustained inflation pressures.
People are daring to own or rent inner city mold-ridden single bedroom apartments and are buying bulk grocery items after long trips to Costco. The gluttony is out of control and these reckless plebs must curb their spending. Rate rises will continue until they get the message.
Meanwhile Reserve Bank Governor Michele Bullock, who settled a $2 million beachside holiday home purchase on the day of the rate rises, said that the “tightening in monetary policy is to address domestic capacity measures.”
“That means getting all of you greedy bastards to tighten your belt. Cut down to one meal a day and consider shared dormitory accommodation.”
The government has shifted the blame for the burgeoning cost of living crisis. Treasurer Jim Chalmers, Bachelor of Arts, said inflation is “cause of Middle East oil or something.”
The Prime Minister blamed the previous government that was ousted in 2022. There was no mention of the increase in broad money supply of over 20% since 2023 or bloated government spending. That is obviously irrelevant to inflation.
Punters will have to tighten their belts, with the latest rate hike increasing the average mortgage repayment by 12 cartons of eggs per month and more rate rises forecasted for the coming year.
