By refusing to cut interest rates today, the Reserve Bank has decided to continue punishing households for an inflation crisis that they did not cause, the Greens say.<\/p>\n\n\n\n
\u201cIn a time when economic inequality is deepening and ordinary Australians are struggling under the weight of financial stress, the Reserve Bank’s failure to cut interest rates is an active decision to make that stress worse,\u201d Greens Economic Justice spokesperson Senator Nick McKim said.<\/p>\n\n\n\n
\u201cThis decision fails to recognise the urgent need for relief among mortgage holders and renters alike, who are already battling the cost of living crisis that has seen prices for essentials skyrocket.\u201d<\/p>\n\n\n\n
\u201cThe RBA were extremely quick to put up rates, they need to deliver relief to households with the same pace and urgency.\u201d<\/p>\n\n\n\n
\u201cConstant rate rises in 2022 and 2023 were a policy failure, they are deciding to double down on that failure by not cutting rates now.\u201d<\/p>\n\n\n\n
\u201cGiven the scope of the RBA\u2019s poor decisions, Treasurer Jim Chalmers needs to use his powers under the Reserve Bank Act and bring rates down.\u201d<\/p>\n\n\n\n
\u201cHe should also ditch the tax cuts for the wealthy, and start investing in genuine cost of living relief, like bringing dental and mental health into Medicare.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
By refusing to cut interest rates today, the Reserve Bank has decided to continue punishing households for an inflation crisis that they did not cause, the Greens say. \u201cIn a time when economic inequality is deepening and ordinary Australians are struggling under the weight of financial stress, the Reserve Bank’s failure to cut interest rates … Continue reading “RBA CONTINUES TO PUNISH HOUSEHOLDS”<\/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-25081","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\/25081","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=25081"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/25081\/revisions"}],"predecessor-version":[{"id":25082,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/25081\/revisions\/25082"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=25081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=25081"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=25081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}