RBA rate hike could push Australia ‘into recession’

Former Howard Government Minister Peter McGauran says the issue of interest rates and cost of living will “largely decide” the next federal election. “If (the RBA) puts up interest rates – sure, it will curb inflation – but Australia’s growth rate is anemic at one per cent,” Mr McGauran told Sky News Australia. “It could push Australia into recession – they will need the wisdom of Solomon.”