Reserve Bank causing households ‘too much pain’ with rate rises, says union chief Sally McManus

Australian union leader says the absence of labour market expertise on the RBA board had caused ‘missteps’

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The head of Australia’s union movement has blasted the Reserve Bank and its governor for a lack of “understanding” that rate rises are causing “too much pain” and low income earners have exhausted savings.

The Australian Council of Trade Unions secretary, Sally McManus, made the comments on Thursday after a ninth interest rate hike – and suggestions more increases will follow – sparked fears monetary policy could be tightened too far, risking recession.

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