August rate hike would wipe out Stage 3 tax cut, wage rise benefits - Deloitte Access Economics

A major economic forecaster is warning that another interest rate rise would wipe out wage rises and stage three tax cuts that have provided some support to struggling households. Deloiitte Access Economics says next month's Reserve Bank board meeting next month is "make or break" and that a rate rise could risk a recession. Also, business payments platform Xero says sales growth has declined for the first time since 2021 and that while there's been continued jobs growth, employers are limiting oay rises to staff.