Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Hansard source

So, in fact, 10 interest rate rises in a row were the driver of people moving to fixed rates. That is what the figures show: 10 interest rate rises in a row. And that expectation of rate rises was brought about by the coalition and their failure to fight inflation. That is what it was brought about by: the policies of the coalition—the former Treasurer up the back, who spent like a drunken sailor precisely at the wrong time of the economic cycle. That is actually what happened.

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