A hot economy? RBA’s rate hike justification is hard to swallow for Australians struggling with cost-of-living crisis

The Reserve Bank of Australia (RBA) recently increased interest rates, citing a need to cool down what they perceive as an overheated economy. This decision has been met with skepticism from many Australians. While economists and the RBA point to economic indicators suggesting strong performance, many workers and mortgage holders are struggling with the rising cost of living. The rate hike aims to slow down economic activity, but its impact is likely to exacerbate financial pressures on households already feeling the strain. The article highlights the disconnect between the RBA's assessment of the economy and the lived experiences of many Australians.

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