The RBA’s interest rate decision — all the numbers behind it

There should be no doubt by now that the US-Israeli war on Iran is putting a strain on Australian household budgets. This contradiction was expressed many times yesterday when the Central Bank announced its interest rate decision.

Interestingly, the RBA had some positive predictions, including that the inflation rate would fall radically within two years, but this prediction was based on falling fuel prices by then.

As expected, Chancellor of the Exchequer Jim Chalmers does not think his government’s policies have any impact on the rise in inflation and claims his next budget will be “responsible”.