Australians feeling the ‘pain’ amid cost of living crisis

Shadow Treasurer Angus Taylor says there is a lot of cost of living “pain” in Australia. RBA Governor Michele Bullock told a conference in Hong Kong that households in Australia “are actually in a pretty good position” despite the “political noise” around the 13 interest rate hikes over the last 18 months. “Australians know that there’s a lot of pain before they default on a loan,” Mr Taylor told Sky News host Peta Credlin. “They want to pay them back, and they will make all sorts of sacrifices along the way. “There’s a lot of pain out there regardless of what central bankers like to say.”