The Reserve Bank of Australia lifted its cash rate by 25 basis points to 4.35% on Tuesday, responding to annual inflation at 4.6% fueled by housing costs and global pressures.
Governor Michele Bullock called the move necessary to curb rising price expectations, though it means an extra $190 monthly for a typical $800,000 variable loan borrower.
Victorian Premier Jacinta Allan slammed the decision as hurting families, highlighting state relief like power bonuses and free transport for kids, but faced sharp online criticism blaming Victoria’s high debt and spending.
