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AAP
AAP
Politics
Colin Brinsden, AAP Economics and Business Correspondent

Many struggled even before rate increase

Increased mortgage stress was coming into focus for borrowers even before the recent cash rate rise. (AAP)

Many Australians will struggle to make ends meet in an economic environment of rising interest rates and when their wages are failing to keep pace with rampant inflation.

While the Morrison government and the Reserve Bank of Australia like to talk about the savings buffer that has been built during the course of the COVID-19 pandemic, the reality is many households are already finding life difficult.

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