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 are certainly profiting from the interest rate rises in Australia. Banks are able to charge higher interest rates on their loans, which translates into higher profits for them. The government is also benefiting from the higher interest rates, as it can borrow money more cheaply and use the funds to finance its various programs.
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