Aussie Businesses Squeeze Customers as RBA Keeps Hiking Interest Rates

Businesses in Australia are being forced to raise their prices due to a ban on surcharges, which is having a ripple effect on the economy. The Reserve Bank of Australia (RBA) continues to lift interest rates, causing concerns among consumers and businesses alike.

The Labor government has set a target of 800,000 new homes to be built by 2030, but with current construction rates, they are likely to miss this target by 262,000 properties. This is a significant blow to the government's housing policies and may lead to increased pressure on affordable housing.

Businesses are struggling to cope with the rising costs of materials and labor, leading them to pass on the expenses to customers in the form of higher prices. This trend is expected to continue as long as interest rates remain high.