A hot economy? RBA’s rate hike justification is hard to swallow for Australians struggling with cost-of-living crisis

‘[Prices have] gone up 20% to 25% over the past few years, and people see that every time they walk into a supermarket,’ says Michele Bullock, the governor of the Reserve Bank. Photograph: Bloomberg/Getty Images

The Reserve Bank thinks the economy is running too hot and needed a rate hike to slow it down.

It sure doesn’t feel that way.