Treasurer Jim Chalmers threw the Reserve Bank's Board"under the bus" with his comments on Tuesday's interest rate decision according to Motley Fool's Scott Phillips.
"That disappointment is greater, given how little the government, and the previous government, have done to lighten the pressure on the RBA." "The Reserve Bank's job is to squash inflation without crunching the economy and they will have lots of opportunities to explain and defend the decision they've taken today."
"The government should do more to help, but in the absence of that, the RBA did what it felt it needed to do. He went on to list a number of proposals, many of which have been widely discussed by experts such as bringing the Budget into surplus, increasing the GST and removing tax incentives adding pressure to the cost of housing, as examples of measures the government could adopt to alleviate inflationary pressure."The government has many, and they need to start using them."
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Others can apportion blame where they like’: Treasurer Jim ChalmersTreasurer Jim Chalmers says other people can “apportion blame” where they want to after being questioned on whether there was a possible miscalculation with the latest rate hike of 0.25 per cent. “When it comes to the independent Reserve Bank, I would rather focus on my part of my job, which is a budget which is designed to address these inflationary pressures that are pushing up interest rates, and I take responsibility for that, others can apportion blame where they like,” Mr Chalmers said.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
‘This is a difficult day for Australians’: Jim Chalmers addresses RBA decisionTreasurer Jim Chalmers has acknowledged the cost-of-living pressures troubling many Australians following yet another rise in interest rates from the Reserve Bank of Australia.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
‘Belongs to the government’: Shadow Treasurer blames Labor for latest rate riseThe Shadow Treasurer says Labor policies are behind the Reserve Bank’s decision to raise the cash rate to 4.1 per cent at its meeting on Tuesday. Angus Taylor said inflation was coming from Canberra “rather than the Kremlin”. “It is coming as a result of a cocktail of policies that we have seen from Labor … which are combining to create an inflationary fire,” he told a press conference on Tuesday. “The truth of the matter is, that’s where these interest rate increases have come from.”
Source: SkyNewsAust - 🏆 7. / 78 Read more »
‘Difficult to cop’: RBA lifts interest rates to 11-year high of 4.1 per centOn a $600,000 mortgage, the 0.25 percentage point increase will add almost $100 to monthly repayments. Treasurer Jim Chalmers said it would be difficult news for many Australians.
Source: smh - 🏆 6. / 80 Read more »
‘Difficult to cop’: RBA lifts interest rates to 11-year high of 4.1 per centOn a $600,000 mortgage, the 0.25 percentage point increase will add almost $100 to monthly repayments. Treasurer Jim Chalmers said it would be difficult news for many Australians.
Source: theage - 🏆 8. / 77 Read more »