Australia’s Cash Rate at a Crippling 17% in 1989: Why It Happened and What the Interest Rate Cycle Tells Us
In 1989, Australia’s cash rate soared to a crippling 17%, sending households and businesses into financial turmoil. Discover why rates reached record highs, how it triggered the “recession we had to have,” and what the interest rate cycle means for predicting future moves by the RBA.