Australia MINIMUM WAGE INCREASE means HIGHER INFLATION and interest rates

Increasing the minimum wage in Australia can lead to higher inflation and interest rates due to several factors.

When businesses face higher labor costs, they often pass on these expenses to consumers by raising prices, leading to inflation.

To combat inflation, the central bank may increase interest rates, making borrowing more expensive for businesses and individuals.

This can result in reduced spending and investment, which further impacts the economy and potentially leads to higher interest rates.

What's your thought on this?

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