Today\u2019s decision by the Reserve Bank will be extremely difficult news for many Australian families.<\/p>\n\n\n\n
Shadow Treasurer Angus Taylor said Australians will rightly be concerned about what this means for their budgets and the difficult decisions they may have to make over the coming months.<\/p>\n\n\n\n
Australians with a mortgage of $750,000 will now be paying $1,856 more each month. That\u2019s over $22,000 more a year they will need to find.<\/p>\n\n\n\n
\u201cToday\u2019s rate hike makes it very clear that Labor\u2019s Budget did nothing to fight inflation,\u201d Mr Taylor said.<\/p>\n\n\n\n
\u201cIn the three weeks since the budget, we have seen markets, economists, and now the RBA itself react to the Budget by increasing their forecasts for inflation and interest rates.<\/p>\n\n\n\n
\u201cLabor has been in government for more than a year now. It\u2019s delivered two budgets.<\/p>\n\n\n\n
\u201cThis is Labor\u2019s rate rise. This rate rise belongs to the government.<\/p>\n\n\n\n
\u201cThis is the consequence of a government that has let inflation get out of control and has failed to take leadership on addressing the biggest economic challenge facing Australians.<\/p>\n\n\n\n
\u201cAustralians cannot afford Labor\u2019s complacency on inflation. The RBA has made it very clear that there is more pain in the pipeline. This is far from over.<\/p>\n\n\n\n
\u201cIt is clear high inflation and rising interest rates are not coming from the War in Ukraine. They\u2019re not coming from Vladimir Putin. Inflation is coming from Canberra.<\/p>\n\n\n\n
\u201cInterest rates will be higher for longer as a result of the decisions of this Labor Government.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Today\u2019s decision by the Reserve Bank will be extremely difficult news for many Australian families. Shadow Treasurer Angus Taylor said Australians will rightly be concerned about what this means for their budgets and the difficult decisions they may have to make over the coming months. Australians with a mortgage of $750,000 will now be paying … Continue reading “Today’s rate rise belongs to Labor”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-21382","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/21382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=21382"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/21382\/revisions"}],"predecessor-version":[{"id":21383,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/21382\/revisions\/21383"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=21382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=21382"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=21382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}