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Labor defends economic record after interest rate rise

Original: Labor defends economic record following interest rate hike | ABC NEWS

Australia's Labor government is defending its economic management after an interest rate increase, with ministers arguing inflation is coming down and the budget is in better shape. Critics say the hike shows cost-of-living pressures remain and that households are still paying for persistent inflation, turning the rate decision into a political fight.

Why now: The rate rise has renewed debate over whether the government's economic policies are working ahead of public scrutiny of cost-of-living pressures.

Australian Labor PartyReserve Bank of Australia

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