Lol some of you guys are like a deer with no eyes, spurting the long used politicians verse of "Oh remember when interest rates were 15% under Labor!!" Gasp. For one I would rather have interest rates at 15%, than interest rates at around 6 or 7% with an average morgage being around 700% less affordable in real terms compared to back in the high interest days. Back in the early 80's or so a couple with median or slightly below median income could AFFORD to buy a house. Try and do that these days. Think about it. No idea...
And yes I agree inflation is more than the "on paper quoted 4%" Rates will rise and they will continue to no matter whose in power.