Double pain for Australians as interest rate and oil price hikes bite

Australians are already paying a price for the illegal US-Israel war on Iran, so why did the Reserve Bank double down and raise rates again?

On this episode of Dollars & Sense, Greg and Elinor discuss the economic impact of the US and Israel’s war on Iran, the Reserve Bank’s decision to raise interest rates, and why changes to the capital gains tax discount might finally be on the way.

This discussion was recorded on Thursday 19 March 2026.

What we owe the water: It's time for a fossil fuel treaty by Kumi Naidoo, is available now for just $19.95. Use the code 'PODVP' at checkout to get free shipping.

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Host: Greg Jericho, Chief Economist, the Australia Institute // @grogsgamut

Host: Elinor Johnston-Leek, Senior Content Producer, the Australia Institute // @elinorjohnstonleek

Show notes:

Never waste a fuel crisis: the Albanese government must seize the moment and start taxing gas companies by Greg Jericho, Guardian Australia (March 2026)

New Analysis: Mid-East war’s hit to Australian economy, how to reduce its impact, the Australia Institute (March 2026)

Report on the Operation of the Capital Gains Tax Discount, Select Committee on the Operation of the Capital Gains Tax Discount, Parliament of Australia (March 2026)

Theme music: Blue Dot Sessions

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