MoAD is open. There may be building works during your visit. The Cabinet Room is temporarily closed. Learn more

Down Tools

In a dungeon a man is being stretched on a 'Rate rises' rack. A masked man in the doorway holds a newspaper with the headline 'Inflation slows' and says, 'Hands up who wants some good news!'

Earlier in the year, Brett Lethbridge had used ‘the rack’, a medieval instrument of torture that would stretch a victim until their joints were dislocated, as a metaphor for the impact of interest rate hikes on Australian households. In July 2023 inflation finally slowed enough to stay the RBA’s hand until the next meeting.