In acknowledging the difficulty another rise will mean for many household budgets, Treasurer Wayne Swan was keen to remind us that rates remain at or near the point they were 30 years ago.

Perhaps more tellingly, he also pointed out that as the national economy continued to gain momentum, it was inevitable that there would be even more rises and, therefore, more pressure coming to bear on family budgets.

And after the fiasco that accompanied previous rises - when the banking sector took it upon itself to boost rates by more than the official rise - there will be a focus on the reaction of the big four banks in particular.

The government has clearly articulated its belief that rises should be limited to whatever the Reserve Bank decides.

More of a worry for most Australians is the fact that commentators have already factored in a rise in the official cash rate next month, and as many as four increases of 25 basis points over the next year.

As each one of these forecast rises becomes reality, so too will the economic pain householders will have to adjust to.

With an election looming some time this year, the Federal Government will be keen to balance the economic need for the Reserve Bank to lift rates with the fact that every rise brings increased hardship, and an increasingly worried electorate.

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