Treasurer clashes with RBA over fourth rate rise
The Reserve Bank has delivered a fourth consecutive interest rate rise, creating tension between Treasurer Jim Chalmers and RBA Governor Michelle Bullock over the causes of inflation. Bullock attributes rising inflation to domestic capacity pressures rather than Middle Eastern conflicts, while One Nation calls for Chalmers' resignation and proposes a super pay boost policy. Economists remain divided on whether a fifth rate rise will occur on Melbourne Cup day, with key inflation data expected imminently.
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