RBA governor Michele Bullock says she didn't 'caution' the government about its spending, and its attitude on spending is 'the right one.'
Reserve Bank governor Michele Bullock has rejected suggestions she cautioned the federal government about its spending behaviour, amid media reporting that she had warned the treasurer to exercise restraint in the lead up to next year's election.Interest rates might fall in February … but don't bet the house on it
"Can you just elaborate for the committee what are some of those risks if policymakers don't exercise a more prudent approach to government spending?"What I've been observing is that the private sector in Australia at the moment is very weak, and the public sector demand has been filling that gap, so what we have is an economy which is not growing very quickly and the private sector's very weak and the public sector's providing some support," Ms Bullock said on...
She said there were certain services governments had to provide, for which it had to provision, and its policies had to work on behalf of voters and the economy as a whole, which meant working with the Reserve Bank to ensure inflation was kept in check. Dr Kent said markets were predicting ahead of the election that Trump may win, and with confirmation of his win overnight, they were moving further in ways you would anticipate, given what economic policies may be on the horizon.Photo shows FILE PHOTO: Republican presidential nominee and former U.S. President Donald Trump holds a campaign rally in Novi, Michigan
Reserve Bank Of Australia Christoper Kent Monetary Policy Fiscal Policy Jim Chalmers Treasury Inflation Government Spending
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