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IN FULL: Treasurer Jim Chalmers on the interest rate decision and RBA announcement | ABC News
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The Reserve Bank has increased interest rates with a 50-basis-point hike taking the cash rate target to 0.85 per cent – well ahead of most economists expectations.
Treasurer Jim Chalmers says it will be very difficult news for Australians already facing skyrocketing costs of living.
He says it's the expectation that inflation will get worse before it gets better.
ABC News provides around the clock coverage of news events as they break in Australia and abroad, including the latest coronavirus pandemic updates. It's news when you want it, from Australia's most trusted news organisation.
Note: In most cases, our captions are auto-generated.
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Treasurer Jim Chalmers says it will be very difficult news for Australians already facing skyrocketing costs of living.
He says it's the expectation that inflation will get worse before it gets better.
ABC News provides around the clock coverage of news events as they break in Australia and abroad, including the latest coronavirus pandemic updates. It's news when you want it, from Australia's most trusted news organisation.
Note: In most cases, our captions are auto-generated.
#ABCNews #ABCNewsAustralia
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