Another RBA rate rise would be ‘counterproductive’ for tackling inflation

Deloitte Access Economics’ Stephen Smith says interest rates should not go up “any further” as it would make the housing crisis worse. “We do not think interest rates should increase any further from here,” Mr Smith told Sky News Business Editor Ross Greenwood. “The June quarter CPI print next week will be absolutely crucial … but in our view a lot of the remaining inflation … is driven by supply challenges, things like housing, a rate rise will only make the housing crisis worse.”