Chalmers blames RBA rate rise on Middle East war

RBA: AUSTRALIANS ARE POORER, Tough Times Ahead

No prizes for guessing what prompted most posts overnight after the Reserve Bank of Australia board voted 8-1 to raise interest rates by 0.25 percentage points to 4.35%.

As noted yesterday, this is the RBA’s third consecutive rise and takes rates back to the peak before last year’s short-lived rate-cutting cycle.

Accountant Jim Chalmers I took it to social media Following the announcement on Tuesday afternoon to try to distract the government from the decision (as commentators always point out, governments like to claim credit for rate cuts rather than rate hikes).