Rate pain: The Reserve Bank hiked interest rates to 2.85 per cent yesterday and, while the central bank acknowledged the pain it was causing, it said there would be more to come.
RBA governor Philip Lowe revealed the board had discussed the as well as the damage inflation did to people and the economy, but said Australia risked a recession unless it acted to stop rising prices.
Provided all lenders pass on the full hike to borrowers, the latest lift will add $114 to monthly repayments for a typical $750,000 mortgage.
Less work, more pay: Want to get paid the same but work fewer hours?
After a successful trial in New Zealand, the company decided to roll out the new work week to the entire Aussie workforce.
In fact, the potential of more rate hikes and higher inflation is making Aussie consumers feel as down as we did in the early stages of the pandemic lockdowns.
The Insurance Council of Australia released research on the scale of the challenge and how the industry should respond to climate change, with fears some communities will be left behind.
The traveller did not declare any of the meat products and was deported and fined $2,664.