Michael McLaren says all eyes will be on the Reserve Bank’s cash rate announcement expected tomorrow.

He says the looming rate rise shows Treasurer Jim Chalmers’ economic policies and excessive spending have come home to roost.

“Even Jim couldn’t defy the iron laws of economics, but as is so often the case, when the political class get it horribly wrong, someone else is made to pay the price,” he said.

Listen to more highlights from Afternoons below:

Image: Getty Images/Hilary Wardhaugh