Canberra [Australia], November 7: A majority of Australians are struggling financially, a poll has found.
The poll, which was published by independent market research company Essential on Tuesday, found that 41 percent of Australians say they are "struggling a bit" to pay bills and 13 percent reported they are in "serious difficulty" with being able to pay bills a regular concern.
It marked an increase from February when 46 percent of participants in the poll said they were either financially struggling or in serious difficulty.
Among respondents to the poll, 22 percent said rising interest rates were having a "very negative" impact on them, up from 19 percent.
Australia's central bank, the Reserve Bank of Australia, has raised the cash rate 12 times since May 2022 from 0.1 percent to 4.1 percent.
Its board of governors will meet on Tuesday afternoon to decide on whether another increase is needed to bring down inflation.
The Essential poll found that 56 percent of Australians think the rate will continue to rise and has not reached its peak.
Thirty-six percent said they believe interest rates have peaked but will take time to go back down.
Overall, 48 percent of respondents said they believe Australia is on the "wrong track" compared to 34 percent who said the country is on the right track and 18 percent were unsure.
Source: Xinhua