The Reserve Bank’s shock interest rate rise was a “pretty blunt and pretty brutal” reminder of the pressures in the Australian economy right now, according to Treasurer Jim Chalmers.
“Particularly this inflation challenge that your viewers are feeling everyday intense cost of living pressures and that’s why that will be a key focus of the budget that I hand down in less than a weeks time,” Mr Chalmers told Sky
News Australia.“My job in the budget is to show enough restraint that we can get the budget onto a more sustainable footing at the same time as we provide this cost of living relief for people who are doing it tough,” Mr Chalmers said.
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