Guardian Essential poll: RBA rate cut too little too late for many as Albanese’s rating dips again
GuardianMAR 1
Australian Election Issue: Cost of Living
Above: Australian $50, $20, and $5 banknotes are displayed alongside an Australian Medicare card in a wallet on March 25, 2025 in Sydney, Australia. Image copyright: Lisa Maree Williams/Stringer/Getty Images News via Getty Images
The Spin
Liberal/National Coalition narrative
Despite Labor's economic rhetoric, Australians overwhelmingly view the recent interest rate cut as insufficient, with more than half believing it reveals the government's economic mismanagement. This growing disillusionment threatens Prime Minister Anthony Albanese's re-election prospects in the upcoming 2025 federal poll.
Australian Labor Party narrative
Inflation has retreated from its peak, with consumer sentiment improving and Australians feeling more financially resilient. Labor's targeted fiscal strategies and budget management have helped stabilize living costs, offering hope for economic recovery in 2025. But there is more work to be done, and only Labor's manifesto plans will truly help support ordinary Australians through the cost of living crisis.