Senate debates

Tuesday, 3 February 2026

Questions without Notice

Interest Rates

2:56 pm

Photo of James PatersonJames Paterson (Victoria, Liberal Party, Shadow Minister for the Public Service) Share this | Hansard source

HSBC chief economist Paul Bloxham said:

… the primary driver of the pick-up in inflation is not strong demand. To the extent that demand is playing much of a role, it is that public demand growth has been strong, due to government spending.

Given the Prime Minister and the Treasurer took credit for rate cuts, do you now accept responsibility for this rate rise?

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