Albanese jets off to talk climate, but interest rate pain is never far away
In ordinary people's day-to-day thinking the cost of living dominates, and never more than this week, when the Reserve Bank hiked rates to the highest level since 2011.
Anthony Albanese is heading to Fiji and Tuvalu for a Pre-COP meeting, but the focus of public and media attention is increasingly shifting away from climate change. The Reserve Bank has raised interest rates for the fourth time this year, a move that has reignited debates over government spending and inflation. Treasurer Jim Chalmers attributed the pressure on inflation to the Iran war, while the Reserve Bank emphasized domestic capacity pressures.
The government faces a difficult final three months of the year, with conflicting demands for cost-of-living relief and spending cuts.
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