‘Extremely grim’: Labor blamed as RBA lifts cash rate from 4.6 per cent to 4.85 per cent

Sky News Australia1 hour ago7:19

Opposition Leader Angus Taylor claims the latest RBA rate rise is linked to excessive government spending, rejecting the Albanese government's explanation that global factors are to blame. “It is absolute and utter nonsense, and the Reserve Bank Governor called it out today. She said that the interest rate increase today was not about oil prices or a war in the Middle East,” Mr Taylor told News24 host Peta Credlin. “It's about government spending being out of control. “The Reserve Bank has been trying to get interest rates down, and the result of that is eventually you break the engine. “The forecasts coming out from the Reserve Bank today are extremely grim.”

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