Kristina Keneally (NSW, Australian Labor Party, Deputy Leader of the Opposition in the Senate) Share this | Hansard source

My question is to the Minister representing the Treasurer, Senator Cormann. When the Reserve Bank cut the cash rate to 3.25 per cent, former Treasurer Hockey said:

The Reserve Bank are cutting interest rates not because the Australian economy is doing well but because the Australian economy is deteriorating. So we are one cut away from emergency levels of a cash rate.

Given the Reserve Bank this week cut the cash rate to a record low of one per cent, how does the Treasurer describe the current cash rate?