Small business continues to feel impact of rising interest rates

JIM CHALMERS RBA GOVERNOR ANNOUNCEMENT

Incoming RBA governor Michele Bullock is seen during a meeting with Australian Prime Minister Anthony Albanese and Australian Treasurer Jim Chalmers at Parliament House in Canberra, Friday, July 14, 2023. AAP Source: AAP / LUKAS COCH/AAPIMAGE

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Australian small businesses are bracing themselves ahead of a potential 13th interest rate rise in a year. Thirty-six economists surveyed by Reuters are split on whether the Reserve Bank will continue to hold interest rates for a second month in a row at its August meeting or decide to increase the rate.

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