RBA chief Macfarlane regrets rate rise

Ian Macfarlane, governor of the Reserve bank of Australia, said on Monday 8 December that he was sorry interest rates had to go up as it would hurt mortgage holders. "I suspect it's in this group of people, who are most overextended even with a modest rate rise, is where the distress will be."

Source: Herald Sun

Reserve Bank governor Ian Macfarlane yesterday said he felt sorry for millions of Australians hit by two pre-Christmas interest rate rises.

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