Breaking: The RBA has lifted the official interest rate to 0.35 per cent less than three weeks before the federal election | swrighteconomy rachelclun
The rise is likely to be the first of a series aimed at combating inflation, which reached 5.1 per cent in the year to the end of the March quarter.Loading
“Scott Morrison, of course, is happy to always take credit for anything that goes right. But he always says, ‘it’s not my job, it’s someone else’s fault, it’s nothing to do with me’ when things aren’t going so well,” he said. The ANZ-Roy Morgan weekly measure of consumer sentiment dropped 6 per cent over the past week, to its lowest level since 2010. Confidence fell in NSW, Queensland and South Australia, while it perked up a little in Victoria and Western Australia.
ANZ’s head of Australian economics, David Plank, said it appeared last week’s high inflation report was responsible for the steep fall in confidence.
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