Senate debates

Tuesday, 2 August 2022

Questions without Notice

Interest Rates

2:34 pm

Photo of Katy GallagherKaty Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

My first point is that the Prime Minister didn't warn the Reserve Bank. I think the Prime Minister referred to the difficult balance that the Reserve Bank has to navigate in this inflationary environment and the decisions they take about increasing interest rates that were occurring—and this environment, I would like to say, was occurring—before the election. While these interest rates are hard on households, when you've got inflation at the level we've got it you will see rising interest rates.

In respect of the second part of Senator McKim's question, this is asking: will the Labor government implement the Greens political party's commitments that they took to the election or made after that? The answer to that, as I said last week, is: we are implementing the policies that we took to the election. That's what we said we'd do before and it's what we're doing after.

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