This is what I said on this thread last week. Today someone has agreed with me. The interest rate has no/little effect on insurance prices.
David Bassanese, the chief economist of BetaShares, has circulated a note on today's inflation data.
"It is stubborn strength in rents and insurance costs (included in financial services) that are most at fault in keeping inflation above pre-COVID levels - over which interest rates have little direct control.
"One saving grace is that much of the pricing pressure reflected the usual start of the year price hikes in a range of "non-market" services such as health, education, and child care," he says.
$2 PARTY, page-5463
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