Australian households fear double whammy of rate hikes and higher petrol prices will lead to recession
Borrowers face losing hundreds of dollars a month in higher repayments and rising pump rices will add to the pain, economists warnFollow our Australia news live blog for latest updatesGet...
By Luca Ittimani · The Guardian World
Borrowers face losing hundreds of dollars a month in higher repayments and rising pump rices will add to the pain, economists warn Follow our Australia news live blog for latest updates Get our breaking news email , free app or daily news podcast Surging interest rates and petrol prices have stripped more than $1bn a month from Australian household budgets as economists warn of recession risks. Consumers are preparing for rates to surpass their recent highs after the Reserve Bank delivered back-to-back hikes ahead of an inflation spike driven by the US war on Iran. Continue reading...