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The political parties will hold their party room meetings and work out positions on issues and legislation, but it’s all about the Reserve Bank of Australia and the slated rate rise today.all economists seem to agree there is another rise coming from the RBA,But that just means people are being hit twice – in their daily spend and their mortgages.
Meanwhile, the government is under pressure to extend the fuel excise pause the previous government had in place. It’s due to expire in September but with petrol prices still high despite the 22c cut, the Albanese government is being asked to keep the pause going. Treasurersays that will cost the budget too much given all the other pressures it is under, but given household budgetary pressures, it may be a fight Labor isn’t willing to have this early in the term.
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