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Another, smaller factor adding to the current RRO price is a hangover effect from the temporary rate cap that was put in place for January, February and March of this year.
But since then the BOJ has had difficulty maintaining the rate cap.
Source: https://seekingalpha.com/article/4583730-liquidity-is-staving-off-the-bear?source=feed_all_articles
Chief executive Robyn Seymour said Council would incorporate the 3.5 per cent state government rate cap despite councillor Adrian Schonfelder wanting to lower it to three per cent to better align with people’s incomes.
Source: https://oceangrovevoice.com.au/news/30-04-2023/surf-coast-rates-to-increase/
"It's not good public policy to leave those least able to pay with the bill for the rate cap," she said.