Sky News Political Editor Andrew Clennell says the government will be “praying, not just hoping”, that the Reserve Bank will not hike interest rates again.
The latest figures show that Australia’s inflation rate has decreased from 4.1 to 3.6 per cent, which is not enough of a decrease to rule out an interest rate rise this year.
An interest rate hike would be ‘politically disastrous’ for the Albanese government
“If there was another rate hike this year, that would be politically disastrous for the Albanese government,” Mr Clennell said.
“If there was another rate hike this year … that would deal Peter Dutton into the game for the next election.
“The government will want the Reserve Bank to hold its nerve.”
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