The policies shaping our future
Treasurer says 'people understand that the mid-year update will necessarily be a pretty tight ship'.
Australia's borrowers and lenders are resilient enough to navigate financial troubles ahead, the RBA believes, as it releases its stability temperature check.
The nation's biggest bank has renewed its commitment to maintain branches for regional Australians for at least another four years.
A November rate rise is still on the cards for the Reserve Bank, even after a slightly softer-than-expected underlying inflation outcome in August.
A spike in fuel prices has ended a five-month streak of slowing growth in consumer prices, adding to Reserve Bank concerns about inflation.
The RBA decision to raise the home loan cash rates has hit mortgage holders hard at a time when cost pressures are already bearing down on families. While the Federal Government points the finger at the Mid-East conflict, back home the blame is directed at public policy.
Reserve Bank governor Michele Bullock hopes four rate rises so far will be enough to bring down inflation, but only time will tell if more hikes will be needed.
The Reserve Bank's decision to lift the cash rate to 4.6 per cent was unanimous, but economists are divided on whether borrowers can expect more hikes.
Labor and the coalition are duelling over why Australians now must fork out more on their mortgages every month.
While not yet in uncharted territory, Australia's housing market is in for a hiding from higher interest rates, lower borrowing capacity and tax changes.
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