Reserve Bank rate hike looms amid inflation debate with Jim Chalmers

The Reserve Bank is expected to announce its first interest rate hike in over two years, with the majority of experts forecasting an increase. Treasurer Jim Chalmers addresses criticism that government spending is driving Australia's inflation, which is currently the highest among developed nations with a rate in the threes. The government is defending its fiscal policy while rolling out cost-of-living measures including cheaper medicines, increased bulk billing, student debt relief and tax cuts.

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