Australia news live: PM says cost-of-living relief ‘number one priority’; Labor ‘can’t keep blaming everybody else’ for inflation, Jane Hume says; Melbourne Cup 2023 race
by Cait Kelly (now) and Amy Remeikis and Emily Wind ( from on (#6G5NJ)
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- Reserve Bank hikes interest rates by 25 basis points to 4.35%
- Without A Fight wins 2023 Melbourne Cup
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The government services minister, Bill Shorten, was also asked about the Reserve Bank's upcoming decision on interest rates later today.
He acknowledged the Reserve Bank is independent of the government but said I hope it stays static":
[I] just know a lot of mortgage holders are doing it tough, but the bank will make its decision independently.
For the Albanese government, we know that inflation is a cost of living issue. We have put in a whole heap of measures from childcare to parental leave and energy support. People are doing it tough at the moment, I think it's hard out there.
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