The Prime Minister has confronted pointed questions throughout a press convention this afternoon after the Reserve Financial institution of Australia's determination to boost rates of interest to 0.35 per cent.
The RBA in the present day elevated the money price by 25 foundation factors, which marked the primary price rise in additional than a decade, sparking plenty of questions for Scott Morrison in regards to the impression this may have on his Federal election marketing campaign.
A reporter requested Mr Morrison if his authorities has misplaced this election as a result of hikes.
Mr Morrison scoffed and stated: "in fact not".
"What in the present day is about is what Australians are seeing on account of the financial system popping out of the pandemic," he stated.
Labor has taken the information of the rate of interest rise as a chance to additional needle the Coalition.
"It was onerous sufficient to make ends meet in Australia on Scott Morrison's watch and in the present day it bought even more durable," shadow treasurer Jim Chalmers stated.
The final time the RBA elevated rates of interest throughout a federal election marketing campaign was in 2007 when opposition chief Kevin Rudd was contesting incumbent Prime Minister John Howard.
Mr Howard's Coalition authorities misplaced the election by a landslide a couple of weeks later.
On the time, Mr Howard apologised for the speed rise's impression on mortgage holders.
"I am sorry about that and I remorse the extra burden," Mr Horward stated in 2007.
In the present day, Mr Morrison was additionally quizzed on whether or not he was sympathetic in the direction of mortgage holders.
He responded: "in fact, I've sympathy with that".
"We expressed our concern about that with what we did on this yr's finances."
World's richest folks revealed