Interest Rates Up

The RBA has increased rates by 25 points to 6.75%.  This is a full 2% higher than Keating’s low of 4.75% in 1993.  Rates were lower under the ALP from May 1992 till December 1994.  As discussed previously the variable home loan rate didn’t drop as much because there was competition in the home loan market was just about to get going and bank’s margins were higher.  As discussed previously, if the Fraser/Howard government had the balls to do a bit of financial deregulation, then their maximum ho