The Reserve Bank’s fight against inflation just got a lot more complicated — and a lot more misunderstood. Despite raising interest rates to cool the economy, a shocking new survey reveals most Aussies think it’s making prices worse. Only a quarter grasp the RBA’s goal; the rest, especially younger people, women, and lower-income earners, believe hikes fuel inflation. With two-thirds of Australians naming inflation as their top concern — alongside jobs, wages, and housing — the RBA’s credibility hinges on fixing this gap. To rebuild trust, they’ve ramped up transparency, holding post-decision briefings to explain their moves. The next big call is August 10-11, with markets betting on a small chance of another hike — all eyes on inflation data that could decide the future of rates.
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