It was the news nobody really wanted to hear - the official cash rate rising for the fourth consecutive time as cost of living continues to hit hard for everyone.
Australia's central bank was widely expected to lift the rate, following three consecutive hikes starting in May to combat inflationary pressures in the economy.
And on Tuesday it was confirmed - the cash rate would increase by 50 basis points to 1.85 per cent.
The latest rise marks the RBA's fourth consecutive monthly decision to raise the cash rate after it hit a historic low of 0.1 per cent to relieve households and stimulate economic activity during the pandemic.
RBA Governor Philip Lowe has foreshadowed further increases to come and the federal government has admitted mortgage holders face a "difficult day" bracing for more increases to their repayments.
The RBA's decision to lift rates follows data showing inflation had soared to 6.1 per cent over the past 12 months, it's highest level in more than two decades.
This week is National Homelessness Week and in Tasmania that has become an issue starker and starker by the day, compounded by a long social housing list, not enough affordable housing and house prices and rents skyrocketing. More and more average people are ending up on the street, and with the news of this rate rise, it will put even more pressure on the household budget.
While work is happening in the space - the Tasmanian Government is pursuing its most aggressive housing package to deliver more social housing - the pain is being felt right across the board.
It's why campaigns such as The Examiner's Winter Relief Appeal exists, to help those doing it tough.
But the question remains - how much pressure can Tasmanian budgets take before they burst?
Everything costs more - whether its food, power, petrol - and despite levers such as the fuel excise being pulled it doesn't seem like there's much relief to be found.
And that support may be pulled, with the federal government yet to commit to extending the excise - despite calls from the Opposition (and the community) to do so.
Liberal Member for Bass Bridget Archer has joined her calls to the growing chorus for the federal government to continue to support consumers at the bowser.
The excise relief is due to expire at the end of September, but with more rate rises forecast, ensuring that continues past the deadline would at least provide some help.
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