As it turns out Australian inflation had nothing to do with out of control wage growth and everything about out of control corporate profits. Armed with this knowledge, Mr Lowe insists on raising interest rate on mortgage holders to reduce mortgage holder spending by crimping discretionary spending and reducing even further their quality of life. This is on top of Aussie wages which have been going backwards for years ironically because of inflation - ostensibly the result of rampant, our of control corporate profits. At what point will the Reserve Bank stop flogging a dead horse and direct their invective at the root of the problem - out of control corporate profits. Give the Aussies a ten percent across the board pay rise and prohibit any company with a turnover of more than $2million from passing it along by increasing domestic prices. Alternatively, increasing the corporate tax rate by five percent and passing the increase to Aussie workers to compensate us for years of out of control corporate profits the government has and continues to ignore.

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