The Reserve Bank's decision to raise the official cash rate, the first since November 2023, is set to put more pressure on households with mortgages.

While the decision likely means borrowers will tighten their purse strings, attention has turned to the effect of government spending, ahead of the Albanese Government's fifth budget. 

• Guest: Dr Pradeep Philip, Head of Deloitte Access Economics and former director of policy for the Prime Minister's Office
• Producer: Grace Stranger