‘They’re struggling immensely’: Cost of living too high for many Australians

Sky News host Erin Molan says Australians are “struggling immensely” as interest rate rises put pressure on Australians amid the cost of living crisis. The betting markets are tipping a 69 per cent chance that the cash rate will rise from 4.1 to 4.35 per cent when the Reserve Bank next meets. If the new Reserve Bank Governor Michele Bullock raises rates, it will be her first rate rise and the 13th since May 2022. “We did a segment on Friday where people called in and just had a moan about what was expensive … we give away $100 vouchers to Red Rooster, and people cry. That’s how poor people are at the moment,” Ms Molan told Sky News Australia. “They are struggling immensely, but hey, the Voice, what else.” The next Reserve Bank of Australia board meeting is on November 7.