Minns warns expected RBA rate rise will see ‘shops close that don’t reopen’ as pressure mounts on PM

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New South Wales Premier Chris Minns warned that an expected Reserve Bank of Australia rate rise could trigger job losses and permanent shop closures. He urged federal and state governments to restrain spending as economic pressure and voter frustration grow ahead of the RBA decision.

Frustration grows over the economy with one Labor MP saying voter anger is already high ahead of Reserve Bank of Australia decision Get our daily political email, free app or daily news podcast The NSW premier, Chris Minns, has warned an expected interest rate increase will force job losses and cause businesses to close, insisting the federal government and states should rein in spending to take pressure off the economy. The intervention from the leader of the country’s biggest state will heap yet more pressure on the Albanese government ahead of the Reserve Bank of Australia’s cash rate decision on Tuesday. Continue reading...