Anonymous17 days ago
The Reserve Bank of Australia raised its cash rate for the second consecutive month to 4.10% in a narrow 5-4 decision, citing inflation driven partly by the Iran war's impact on fuel prices, as all Big Four banks immediately passed the hike to mortgage holders. Prime Minister Albanese is pressing ahead with a card surcharge ban worth $1.2 billion annually to consumers, positioning it as populist relief against the banking sector — but critics argue the gesture is dwarfed by the real cost-of-living pain from surging petrol prices, rising mortgage repayments, and an inflation rate stuck well above the RBA's target band.