The Albanese government knows if rates move again, as now seems inevitable, it’s going to get whacked, regardless of the cause.
saying it was consistent with expectations, and implying the Reserve Bank of Australia had no need to get excited.People are angry and eager to apportion blame.“What we’ve seen today – and they will obviously assess these numbers in their own way – but what we’ve seen today is consistent with our expectations, it doesn’t materially change the inflation outlook going forward.”
It’s a far cry from just over six months ago when prime minister Anthony Albanese and Labor made history byIt was the first time in 103 years since a government won a seat from an opposition in a federal byelection. At the time, hardheads from both major parties agreed the voters had yet to blame the government, which was less than a year old, over the rising cost of living.But both parties knew that would change.
Among those already hanging on for grim death, the impact will be severe, and it could not come at a worse time – Christmas, the most expensive part of the year. The broader effect on confidence will be significant, as it could be for the government, including a prime minister who blew much of his capital on the Voice referendum.
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