Original article by Shane Wright, Millie Muroi
The Sydney Morning Herald – Page: Online : 4-Nov-26

The Reserve Bank of Australia’s decision to increase the cash rate to an 18-year high of 4.85 per cent was not unanimous; three members of the nine-person monetary policy board voted to keep interest rates on hold. RBA governor Michele Bullock said that although Australia is not yet in a recession, it will feel that way to many people as they cope with falling real wages, higher inflation and higher mortgage interest rates. Meanwhile, Treasurer Jim Chalmers says the federal government’s budgets have not been a primary contributor to inflation, although he adds that Labor intends to play a "helpful roll" in curbing inflation. The government’s expenditure review committee met earlier this week, amid expectations that next month’s mid-year budget update will include spending cuts.

CORPORATES
RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY