1,000 signatures reached
To: Reserve Bank of Australia
Stop hurting workers! No more interest rate rises
It's time the Reserve Bank of Australia (RBA) stopped punishing everyday Australians who are doing it tough with excessive interest rate rises.
The main driver of the cost-of-living crisis is massive corporate profits.
Add your name to our petition today.
Why is this important?
The cost of living crisis is far from over.
Wage growth is less than half the rate of inflation and prices for essential items continue to soar.
And the RBA’s approach to fixing inflation has almost pushed Australian workers and the economy off a cliff.
The RBA has delivered 10 consecutive interest rate rises in a row, to 3.6% as of March 2023.
That means that a worker with a $500,000 mortgage has to find an extra $1,100 per month to cover their repayments. And it's not just homeowners that are having to cough up – people who are renting are feeling the flow-on effect in the form of staggering rent increases and widespread housing availability shortages.
Meanwhile, big business profits are going through the roof, and in some cases, outstripping even pre-pandemic levels. This greed-price spiral is what's really driving inflation.
Between the RBA and big companies, average Australians are bearing all the pain of a situation they did not cause and have little control over.
The RBA has already warned us to brace for more interest rate rises.
But we say: Enough. Stop hurting workers.