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The Age: Interest Rate Statistics has shown that interest rates in 2001 were around 6.05%. (For example a $300,000 home would pay $1942.08 extra). On February 2008, the rate had risen to 9%. (Now the buyer would have to pay $2517.59 extra).
• Inflation (Goods and Services value, going up)
Goods and services such as Petrol, milk and power are increasing their value overtime. The economy is simply going too fast which is causing inflation to explode our needs and wants up in value. The Reserve Bank of Australia has risen interest rates to slow down the Australian Economy and tackle inflation...
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Common topics in this essay:
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