Minns warns expected RBA rate rise will see ‘shops close that don’t reopen’ as pressure mounts on PM
NSW Premier Chris Minns has warned that an expected interest rate hike by the Reserve Bank of Australia will lead to business closures and job losses. He is urging the federal government to reduce spending to help alleviate inflationary pressures.
Why it matters
It reflects growing political tension in Australia regarding the cost-of-living crisis and the effectiveness of current economic policy.
Anthony Albanese (L) and Chris Minns. The NSW premier says ‘everybody needs to do their bit’ when asked about government spending adding to inflation pressure. Photograph: AAP Anthony Albanese (L) and Chris Minns. The NSW premier says ‘everybody needs to do their bit’ when asked about government spending adding to inflation pressure. Photograph: AAP Australian economy Minns warns expected RBA rate rise will see ‘shops close that don’t reopen’ as pressure mounts on PM Frustration grows over the economy with one Labor MP saying voter anger is already high ahead of Reserve Bank of Australia decision
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