Australians are in for a world of pain, with mortgages and rents set to rise after our second interest rate hike in as many months.
It was a line-ball decision from the Reserve Bank – with five members voting for a quarter of a percent jump and four against – putting our official cash rate at 4.1 per cent.
RBA Governor Michelle Bullock says high inflation left them with no choice, but others have slammed the call.
Today, Chief Economist at The Australia Institute, Greg Jericho, on why he thinks the RBA has got it horribly wrong.
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Guest: Greg Jericho, Chief Economist at The Australia Institute
Photo: AAP Image/Lukas Coch
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