Reaction to today's rate rise by Zach Smith, incoming National Secretary, CFMEU: "The RBA's model is broken and we need to do more than tinker with its charter — we need a complete refresh. Greedy corporations caused this inflation crisis by jacking up prices and trousering massive profits. And how does the RBA respond? By belting ordinary working people who did nothing to create the problem. "How about we dial up the pressure on corporations instead of on ordinary families? How about we capture some of the windfall profits that banks and energy companies and supermarkets are generating off the back of their high prices? "These rate rises are causing unbelievable pain to blue collar workers and their families. I know these workers live a long way from Martin Place, but the RBA needs to consider what their day to day realities look like. "People who wake up early and work hard are now struggling to pay for the basic necessities like food, shelter, and electricity. That's an absolutely disgraceful situation for a wealthy nation to have created.
RBA model is broken
CFMEU
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