Report: Nothing Like A Packed Bus On A Dreary Morning After Yet Another Rate Rise

CLANCY OVERELL | Editor | CONTACT

The Reserve Bank of Australia is awash with excitement this morning, after learning that their most recent rate rise has had an immediate effect on working Australians.

Representatives for the nation's central bank and banknote issuing authority have taken to the streets this morning to observe the spending habits of the Australian public.

And the reports that are coming back to the Governor Michelle Bullock are very positive.

This comes as the RBA raises the cash rate for the fifth times this year - by 0.25 percentage points.

The RBA says their decision comes after weighing up the pain this will cause working Australians, versus the obvious lack in spending that will follow.

And judging by the depressive mood on the streets this morning, signs are good!

Australians are skipping their morning coffee and heading straight to the office on public transport.

Hairdressers and other overindulgent services like nail salons and physios remain empty - as business owners are hit with mass cancellations from economically distressed customers.

In fact, you wouldn't be able to guess that Silly Season had just kicked off, as the city buses are packed with generally miserable people mainlining A.I slop on their comfort rectangles.

With mortgage repayments getting punchier, it appears that Australians are focusing on bargain basement fruit and veg - and no longer frivolously spending money on decadent luxuries like health checks and planned pregnancies.

The endless run of dreary weather also seems to matches the national mood perfectly, as Australians begin staring down the barrel at an overcast Christmas Day with no prawns.