So, the Reserve Bank of Australia has decided to raise interest rate by 0.25% in the hope of controlling inflation. The reasoning follows that by raising interest rate, consumer will reduce spending, thus controlling inflation, correct?

Well, dear RBA and government, I would like to tell you that I am already spending less because of higher petrol prices. Thank you very much. Now, I’ll be eating less, spending less, using less, just about less of everything. So, explain why I still feel more poor? Because I’m paying more for less!

How has it affected YOU?

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