Today’s National Accounts figures confirm that Australia is in a GDP per capita recession, and they highlight the grim Christmas that so many households will face.
The numbers today tell us that middle Australia is being absolutely crushed.
The Reserve Bank’s decision to hold interest rates at 4.35% is cold comfort for hardworking Australians with a mortgage.
With the Reserve Bank expecting inflation to remain a challenge until late 2025, Australian families are facing several more months of higher mortgage repayments.
