CANBERRA, ACT, Nov. 3 -- The Treasurer of Australia issued the following transcript:
Jim Chalmers:
Today the Reserve Bank increased the cash rate by 25 basis points to 4.85percent. Today's decision was widely expected, but that doesn't make it any easier for Australian families and businesses to absorb. It will be difficult news for many Australians who are already paying a hefty price for circumstances outside of their control. Australians are already struggling, and this will stretch their budgets even further. Especially when you consider that the full impact of the previous rate rises from earlier this year hasn't been fully felt yet, and they will slow our economy further when they are. Today's decision was widely anticipated, but it...