The economic bad news just keeps on coming for the Albanese government with warnings over inflation, interest rates and consumer confidence. Meanwhile, Ukraine has ignored Donald Trump and resumed strikes on Russian oil facilities.
INFLATION BATTLE GETS HARDER
Towards the end of last week, Treasurer Jim Chalmers jetted off to Bangkok for the IMF-World Bank Group annual meetings as well as the gathering of the G20 finance ministers.
He’ll no doubt have been pleased to escape the Canberra bubble whipping itself into a frenzy over whether he was rolled by the prime minister over the ATO credit card debacle, plus the never-ending questions about the faltering state of the economy.
Unfortunately for the treasurer, though, we start this week with yet more economic warnings, as the Nine papers lead with a report on growing concerns within the Reserve Bank of Australia (RBA) that the Iran war fallout means inflation will remain high and continue to push up interest rates.