FLAU - Spiking Australian Interest Rates Are A Glimpse Of The Global Future

• Australia has been in the news lately over its aggressive response to the pandemic. But the bigger Down Under story might end up being interest rates.
• With inflation soaring, however, it became harder to manage the country’s increasingly unruly yield curve, and finally, the RBA just gave up and let the market decide how expensive short-term money should be.
• The current surge in price inflation is global, which means every central bank is wrestling with the same financial market instability that just defeated the RBA.

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