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The Guardian - AU

Business

Satyajit Das

Forget the spin. Cost of living and interest rates may stay high for some time to come

Interest Rates Inflation RBA United States

A fall in inflation alone will not bring down the cost of living, writes Satyajit Das Photograph: Xinhua/REX/Shutterstock

Australia’s politicians and Reserve Bank officials have obfuscated the extent of the economic challenges ahead.

The spin is that interest rate rises are temporary and for the best. The truth is that the cost of living and interest rates may stay high for some time to come.

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