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Try and Look Miserable

A man with a clipboard asks an 'average man on the street' how he feels about the future and tells him to say 'gloomy' as a 'Reserve Bank guy' is listening. A man smoking a cigar watches from a window.

There’s nothing new in home-buyers living in fear of the RBA announcing another increase in interest rates in an effort to curb high inflation. When rates are high, it keeps a close ear on what the commercial banks tell it about how many of their borrowers are in distress. Fortunately, it doesn’t rely on opinion polling.