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There’s a saying in financial markets: interest rate hikes are like cockroaches – there’s never just one.
The Reserve Bank’s first hike in its cash rate in 11 years will inevitably be followed by a second, and a third, and… who knows? Governor Philip Lowe said on Tuesday it was “not unreasonable” to expect the cash rate to climb to 2.5%.
If fully passed on, such a series of hikes would raise the cost of servicing a $500,000 mortgage by $600. The first instalment lifts it by $65.
Former Reserve Bank official Isaac Gross argues, Lowe had no choice but to act, and will have to act many more times. In a separate analysis, I put the case for hastening slowly. Inflation might already be coming down.
The cost of living ranked highly as a concern for the 10,000 readers who took our recent #SetTheAgenda poll. Feel free to join me, Julie Toth and John Hawkins for this live online Q&A about cost of living and the election, tomorrow (Thursday) at 12.30pm AEST on The Conversation’s Facebook page.
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Peter Martin
Section Editor: Business + Economy
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Isaac Gross, Monash University
Governor Philip Lowe says it is “not unreasonable” to expect the cash rate to climb to 2.5%. That’s an extra $600 to service a $500,000 mortgage.
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Peter Martin, Crawford School of Public Policy, Australian National University
Why raise rates now, for the first time in more than a decade? If the Reserve Bank isn’t careful, too many more rate hikes like this might help bring on a recession.
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Michelle Grattan, University of Canberra
The Reserve Bank, as expected, has thrown its grenade into the election campaign, but neither government nor opposition can be sure which side will be more damaged, or advantaged, by the explosion.
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Judith Brett, La Trobe University
The strength of support for the teal independents reveals a fracturing of support for the Liberal Party in its traditional strongholds.
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Emma Long, University of East Anglia
What is the draft opinion about the landmark US abortion decision Roe v. Wade and how did we find out about it?
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Rob Manwaring, Flinders University; Charlie Lees, Flinders University; Grant Duncan, Massey University
Anxious not to be easy targets for their pro-business opponents, labour parties everywhere now run on a ‘thin ideological platform’. Anthony Albanese’s ALP is no exception.
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Laura Phillips, Monash University; Rachel Leihy, Arthur Rylah Institute for Environmental Research
We compiled the first list of Antarctic species and where they were first found. This knowledge means we can now protect all of the icy continent’s species.
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Jim Gillespie, University of Sydney; Lesley Russell, University of Sydney; Richard Norman, Curtin University; Rosemary V Calder, Victoria University; Stephen Duckett, The University of Melbourne
Medicare has been mentioned a lot this election campaign. But what have the major parties actually promised? Five experts grade their policies.
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Politics + Society
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Michelle Grattan, University of Canberra
Michelle Grattan discusses politics with politics + society editor, Amanda Dunn
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Amy Nethery, Deakin University
One of the Morrison government’s biggest challenges in this election campaign is the rise of the so-called ‘teals’.
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Wilfred Yang Wang, The University of Melbourne
Concerns about misinformation spreading among Chinese communities are once again prominent, as they were during the 2019 election campaign.
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Chris Martin, UNSW Sydney; Eileen Baldry, UNSW Sydney; Patrick Burton, University of Tasmania; Rebecca Reeve, UNSW Sydney; Rob White, University of Tasmania; Ruth McCausland, UNSW Sydney; Stuart Thomas, RMIT University
Finding stable housing is one of the biggest challenges facing prison leavers. Access to public housing has been found to flatten the curve on rates of recidivism.
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Health + Medicine
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Conor McCafferty, Murdoch Children's Research Institute
Most children who catch COVID have mild illness and recover quickly. We identified key proteins in kids who’d had severe COVID with painful inflammation or respiratory failure.
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Adrian Raymond Walker, UNSW Sydney; Julian N. Trollor, UNSW Sydney
If hospitals know a person has an intellectual disability, they can tailor communication and care to improve their treatment and health outcomes.
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Science + Technology
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Jonti Horner, University of Southern Queensland; Tanya Hill, Museums Victoria
Each year, the Earth runs through a broad river of dust surrounding Comet Halley – giving birth to the spectacular Eta Aquariid meteor shower.
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Daniel Angus, Queensland University of Technology; Axel Bruns, Queensland University of Technology; Ehsan Dehghan, Queensland University of Technology
From voting info to risqué quips, this election, online political ads are more pervasive than ever before.
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Environment + Energy
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Deborah Ascher Barnstone, University of Technology Sydney
Building houses better at withstanding the impacts of climate change is one way we can protect ourselves in the face of future catastrophic conditions.
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Arts + Culture
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Lisa French, RMIT University
Wearing edits life while Sherman imitates it, in these pieces in conversation at Melbourne’s PHOTO 2022.
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Books + Ideas
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Liz Tynan, James Cook University
The British atomic tests at Emu Field in South Australia pre-dated Maralinga by three years. Largely forgotten, they remind us the costs of harmful political decisions are borne by the most powerless.
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Featured jobs
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— Canberra ACT, Australia
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Featured Events, Courses & Podcasts
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— Victoria, Australia — The Conversation
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— Melbourne University Forum Theatre (153), Arts West - North Wing (148A), Victoria, Australia — The University of Melbourne
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— Online webinar, Sydney, New South Wales, 2000, Australia — University of Technology Sydney
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— 270 Joondalup Drive, Joondalup, Western Australia, 6027, Australia — Edith Cowan University
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