Did you buy a coffee machine with a tax refund? It may have affected Australia’s interest rate

Policymakers didn’t think people had the financial capacity to purchase ‘durable’ goods – but a rise in spending contributed to inflationFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastOne of the first things many Australians did last year after receiving a tax refund or a lower mortgage rate was to buy an armchair, an air fryer or a coffee machine.The purchases, evident in company earnings published this week, came after households had endured years of high living costs – and consumption had been weak up until that point. Continue reading...