Highest cash rate since '08 + does the Melbourne Cup still stop the nation?

There’s a big blame game going on in politics right now because the Reserve Bank has increased the cash rate again, in an attempt to reduce inflation. It's now at 4.85 per cent, making it the highest since 2008. The government is pointing to outside influences, while the opposition says the problems are coming from inside the house. And, is the Melbourne Cup still the race that stops the nation? Crowds have been dipping since the 2010s but started to bump up again recently, with 90,000 expected to attend this year. Also in attendance were protesters who say the race is run on animal cruelty.

Listen now:

01:30 – Interest rate hike

18:55 – Melbourne Cup

Guests:

• Tim Wilson, Liberal MP, Shadow Treasurer
• Hunter Fujak, Senior Lecturer in Sports Management, Deakin University

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