'Global factors' are 'driving up inflation': Frydenberg

Treasurer Josh Frydenberg says global factors are causing inflation to be driven up amid the RBA lifting the cash rate to 0.35 per cent.

"It is very, very important to underline the fact that these are global factors that are driving up inflation - both the COVID pandemic, which has seen supply chains disrupted, and the war in Ukraine, which has seen a spike in fuel and other commodity prices," Mr Frydenberg said.

"These are international factors having an impact here at home, but it would be completely unreasonable for any objective analysis to think that emergency level cash rates and monetary policy could stay indefinitely."

[bella]

I think it's plausible that money kept getting printed at an enormous rate which the value of a dollar is worth very little and so we pay more for everything.

[vivianlouder]

**For those who think Russia is going to be disowned by the world consider the countries that support Russia; China, India, Belarus, Armenia, Syria, Pakistan, Venezuela, Iran, Qatar, Saudi Arabia, the UAE, Hungary, South Africa, Brazil, Cuba, Kazakhstan, Kyrgyzstan, Eritrea, North Korea, and areas in Ukraine on the Russian border where the people speak Russian and are still loyal to Russia.*

[qqui]

This is the result of a world in which assets are owned by few - the rich elite- and the rest get crushed. As money becomes worthless assets prices will go through the roof.

[mikepearson]

By global factors do you mean Klauss Schwab and the great reset push.

[jodiebaker]

**The foreign owned RBA, working in unison with the big four banks, only need to raise the interest rates to between 3 & 5% to steal over 40% of the Australian real estate market, a victimless crime as far as they are concerned.*

[johnhoyle]

The LNP always have someone else to blame.

[jameswatt]

I remember when the RBA was telling us that inflation was not a thing. So their rich mates could escape?

[vivianlouder]

*The Dollar's Reserve Status is Ending. The US Government forbids competition in currencies. Why is that? Is it because the Fed's dollar would quickly lose the competition with gold and silver, and perhaps even Bitcoin?*

[HelloWorld-nsgt]

Biggest problem is overcrowded hospitals.

[arroeducarlion]

nothing to do with everyone having been locked in their homes against their will
nothing to see here

[vivianlouder]

*What if India, China and Russia follow sound money?Who knows? That would be even more significant. Gold is money and will be accepted anywhere in the world.*

[vivianlouder]

**What is very significant is that Russia has tied to their currancy the ruple to gold and natural gas. We hear from Karen that Russia is isolated? But India and China are both doing business with Russia and they are the most populated nations in the world so that contradicts Karen's isolation thing!*

[stokersruleok]

You will own nothing and be happy!
Klaus Schwab.

[alonzomosley]

Can you imagine Scomo screaming on the phone to Phillip Lowe RBA head last week Dont increase the rate till after the election.I am thick or something, the cash rate was .1%, bank loan rate not less than 2% if your lucky .So why do banks need encouragement to follow the RBA?The banks will go crazy after the election guaranteed and the media will say the usual, shop. around for the best rate even though they all piss in each others pockets😂

[joebotz]

Nonsense it's greedy corporations

[andrewgordon]

Interest rates are still less then 1c in each dollar borrowed. It's still cheep

[spikeprotein]

What is victory? To see your LNP enemies destroyed and hear the lamentations of the men who sound like women. Suck it up, Princesses.

[vivianlouder]

*Gover nment can't cre ate go ld out-of-th in-air (like it do es with d oll ars) to fund its exp an sion into ev ery asp ect of our liv es. But change is in the air.*

[northseabrent]

“The cost of living will always be cheaper under the coalition”