SBS News

Jim Chalmers says the government's temporary fuel excise relief — set to expire at the end of June — remains under review and will not continue indefinitely, as the government weighs ongoing cost-of-living pressures against inflation concerns.

Treasurer Jim Chalmers says Australians are feeling the economic impact of the conflict in the Middle East, after the Reserve Bank left interest rates unchanged at 4.35 per cent.

Welcoming the decision to keep rates on hold, Chalmers said it would not make life easier for mortgage borrowers but "doesn’t make life harder either".

As we mentioned earlier, the RBA said financial conditions have tightened following its three interest rate increases this year, pointing to early signs that higher borrowing costs are flowing through the economy.