Sky News Business Editor Ross Greenwood says if inflation “gets out of control”, interest rates will need to rise higher to lift inflation out of the Australian economy.
Mr Greenwood said the real worry for Treasurer Jim Chalmers is wage expectations beginning to rise amid rising inflation.
“The expectation is that if they can get on top of this quickly, then really you might not have the real economic cliff that could face other nations across the world, ” he told Sky News Australia.
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