The Treasurer is insisting a newly announced review of the Reserve Bank is designed to build confidence in the institution, not take potshots. Read more: ElizaEdNews AusPol 9News
, will seek to understand why the central bank slashed interest rates to emergency levels before reverting to month-on-month interest rate increases.
"I think Australians are finding it difficult to make room in their household budgets for rising interest rates at the same time as the other costs of other essentials have been going through the roof," Chalmers said. "The point that the Reserve Bank deputy governor was making is that a number of people, thankfully, have some room in their mortgage. They have been able to build a buffer.
The treasurer said the review into the RBA was needed because the economy was facing "very difficult" challenges in the medium and long terms.
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