The belt-tightening endured by the majority of Australians over the past year has caused enormous hardship. Finally though, last Wednesday, there was a glimmer of hope when the latest inflation number turned out to be lower than expected. It means there’s less chance on Tuesday that outgoing Reserve Bank governor Philip Lowe’s parting gift to the country will be a thirteenth interest rate rise.
It’s a small mercy for many, but for other cash-strapped mortgage holders and renters it’s already too late. And also adding to their economic misery, Tara Brown reports that financial experts are now saying much of this cost-of-living pain could and should have been avoided.
