John Watson (Tasmania, Liberal Party) Share this | Hansard source

I come to this adjournment debate disappointed at the very jaundiced and inaccurate remarks made about a great Australian and generous company, BHP Billiton, by the former union boss and now ALP Senator George Georges. But the main focus of my address tonight is really the decision of the Reserve Bank to raise interest rates by 25 basis points. In 2003 the Treasurer and the Governor of the Reserve Bank of Australia said:

Monetary policy is a key element of macroeconomic policy and its effective conduct is critical to Australia’s economic performance and prospects.