Today’s official interest rate rise will put further pressure on families managing tight household budgets.  

While the decision by the Reserve Bank of Australia (RBA) was not unexpected, it’ll make life harder for more than 3 million families that have a mortgage. 

A 50-basis-point rise takes the official cash rate to 1.35 per cent. For a borrower with an average $500,000 Australian mortgage, that’s more than $300 in additional repayments since May. 

The Coalition left the fundamentals of the economy in good shape but with strong economic headwinds around the world, Australians are right to be worried about the impacts of inflation and interest rate rises under Labor.   

The price of petrol is through the roof, it stings every time we buy a bag of groceries and paying our next power bill will hurt more than usual. 

The economic threats on the horizon require a strong response.

Anthony Albanese has managed to circumnavigate the globe but he hasn’t managed to come up with a plan to navigate inflation. 

Australians are facing cost of living pressures on a range of fronts and small businesses are struggling.

Governments have a role to play in addressing these issues but we are seeing nothing from Labor.