Cash rate increases to 4.1 per cent amid petrol price shocks

Greens leader Larissa Waters blamed the Albanian government and its involvement in conflicts in the Middle East for today’s interest rate increase.

“This rate increase will not end the war that is driving up prices or stop companies using illegal conflict to rip people off. It will only hurt millions of Australians and Labor must step in to stop it,” Waters said.

“It’s not mortgage holders and renters who are causing prices to rise, it’s politicians who gambled with the global economy, supported dropping bombs on children, and now act like they had nothing to do with it,” he said.

Waters said Labor should “outlaw corporate price rises, rein in tax breaks for property investors, freeze rents, divestment powers, introduce tax wealth and advocate peace not war” as measures to cool the economy.

“Labour, Liberal and One Nation triggered this wartime economic crisis by supporting Trump and Netanyahu’s illegal war, made it worse by sending in troops, and now millions of Australians are paying the price.”