Happy Rate Rise Day, To Those Who Celebrate It

WENDELL HUSSEY | Cadet | CONTACT

On the final Tuesday of September, it's a significant day for the nation.

With the RBA set to announce another rate hike, those who outright own capital and lend capital are set to quietly celebrate.

Which is why The Advocate would like to wish a happy rate rise day to those who celebrate it.

Obviously our condolences are with the vast majority of Australians who are set to suffer as a result of the RBA's blunt tool to control the economy.

While ordinary Aussies have zero effect over thinks like international conflicts that have sent the price of energy and fuel skyrocketing astronomically, and corporate profiteering - rates unfortunately need to go up to make the magic inflation numbers go down.

However, it's not all bad news, with a marginalised sector of the Australian economy set to benefit.

Boomers with nice balances in the bank and property they outright own (which they can now jack up the rent on again) are one of those sectors, as well as our much loved, nice TV ad, banks.

With yet another opportunity to quickly rase the rates on lending and slowly raise the rates on cash, as well as slug customers with late payment fees and so on, each of the nation's Big Four are set to see the 7-10 billion annual profits keep rolling in.

So, if you find yourself in one of those groups, enjoy the day, and know that there's probably another one around the corner some time soon!