to 0.35 per cent, the first increase since 2010 and the first during an election campaign since 2007.
Economist Steven Hamilton, a visiting fellow at the Tax and Transfer Policy Institute at the Australian National University, said there was no doubt the extra spending in the budget – on top of what was being promised by both major parties during the campaign – had been a factor in the Reserve Bank’s move.
RBA governor Philip Lowe on Tuesday said there was a “lot of positive momentum” in the economy at present with the bank forecasting the economy to expand by more than 4 per cent this year. Frydenberg, in a debate with shadow treasurer Jim Chalmers, said Treasury had made clear when putting together the budget that the cost-of-living measures would not have a material impact on inflation.Liv Cameron
Frydenberg said for someone on full-time average earnings, inflation would out-pace wages growth by $900 this year but the government was delivering $1500 in tax relief from July 1.Beyond that, wages growth is still expected to be short of inflation, leaving people going backwards until the second half of next year.
swrighteconomy So still believe the rate rise isn’t your fault ScottMorrisonMP ausvotes AlboMP
swrighteconomy Extremely unlikely, given inflationary pressures globally, Aus fiscal policy is a mere bagatelle *at this stage* But then the main economist quoted has a lot of form for gobbing off for political reasons. Perhaps go elsewhere for comment
swrighteconomy Liberals are out-pork barrelling Labor 10:1. So your bothsidesism is biased bullshit. auspol
swrighteconomy Despite Covid, rising inflation and the Ukraine crisis, Germany will soon introduce a monthly ticket for all local transport (Nationwide) of €9, why doesn't Third Country Britain do the same then?
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