Naturally, interest rates faced by the private sector spiked up (particularly for lower-rated debt) as the appetite for risk contracted sharply. https://www.rba.gov.au/speeches/2017/sp-ag-2017-08-09.html  6/16  8/9/2017  Fixed Income Markets and the Economy | Speeches | RBA  Graph 6  The differences between what happened with private sector and government yields can be seen clearly by examining spreads (Graph 7).
Similarly, we would want to work with other stakeholders to plan the implementation of the programme over the short- and longer-term. I will return to this issue later. Scope of the education programme It is important to stress, ladies and gentlemen, that the financial literacy programme is not designed to make people financial experts.