eli5: who or what is profiting from the MASSIVE interest rate rises in Australia? Is it the banks holding your mortgage? The Government?!.. basically, who is loving life right now?
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The banks holding your mortgage are the primary beneficiaries of the MASSIVE interest rate rises in Australia. The banks are able to increase their profit margins as they charge higher interest rates on the loans they provide. The Government also benefits from the higher interest rates as they receive more revenue from taxes on the banks’ profits.
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