Interest rates are expected to rise on Tuesday, which would leave Australia with the second-highest cash rate in the developed world, behind only Iceland.

3AW Breakfast host Mark Allen said that despite the assurances of Treasurer Jim Chalmers, financial experts were not painting a pretty picture.

Press PLAY to hear Allen detail why financial experts are predicting a rate rise

“Putting lipstick on a pig. That’s basically the vibe you get from reading every single paper that is on our desk,” he said.

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