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home / archives / 1988 / 24th June

Watching the squeeze.

Major rises in interest rates occurred in 1988/1989.

As Paul Kelly wrote in his book 'The End of Certainty' "a 21 month period from April/May 1988 in which interest rates were tightened and progressively and belatedly until cash rates peaked at 18.5 per cent and home loan rates were around 17 per cent."