Part 6/9:
When comparing interest rates internationally, Australia’s situation looks relatively moderate. While the UK’s cash rate stands at around 4%, and the US between 4.25% and 4.5%, Australia's rates have been higher for a longer period—largely because of its aggressive government spending. Recent cuts in mortgage interest rates have provided temporary relief, but O'Brien points out that these gains are minimal and that Australian homeowners remain significantly worse off than before the Albanese government took office.