Reserve Bank of Australia governor Philip Lowe says if high inflation were to persist it would lead to even higher interest rates and higher unemployment. Follow updates live.
Share post
Peter Dutton is now fielding questions from political editor Phillip Coorey, who asks if the opposition leader is misreading the business mood by vehemently opposing Labor’s carbon trading scheme in the form of a beefed-upCoorey asked Dutton if he is out of step with the mainstream mood, or are businesses saying something to him that they’re not saying publicly?
Dutton responded: “Certainly for some sectors, there is a ... very different story. And that’s been the private conversations that we’ve had with some of those CEOs and some of the boards who are deeply concerned about where their company, where their industry is tracking”. “We’re in favour of emissions reductions, we’re in favour of working with, not against, companies. And we thought the mechanisms that we had in place, had us achieving objectives that were publicly stated that we thought were reasonable.Asked if a future Coalition government would repeal the safeguard mechanism legislation, Dutton said it hadn’t been passed yet.
“Let’s see whether they can get agreement. Let’s see what the final form looks like. And we can make a judgement from there,” he said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Reserve Bank’s Lowe takes stock of his inflation-fighting campaignReserve Bank governor Philip Lowe recognises that his inflation-fighting campaign has now entered a new and particularly tricky phase.
Read more »
‘Stark difference’: Greenwood on RBA Governor’s current language on rate risesSky News Business Editor Ross Greenwood says the language of the Reserve Bank Governor Philip Lowe has had a “wholesale change” from a month prior. “The language of the Reserve Bank governor – wholesale change, and so rather than actually pointing there needed to be further interest rate rises, it was there may be further tightening of monetary policies ahead,” Mr Greenwood told Sky News host Peta Credlin. “Quite a stark difference from what was being said just a month ago when the Reserve Bank at that time was really quite determined it wanted to defeat inflation.”
Read more »
Calls for Reserve Bank to slow rate rises amid fears of rising suicide rateAs Australians nervously wait for today's interest rate decision, experts are concerned the impact on the community's mental health will increase in the next year as the cost of living pressures bear down. 9News
Read more »
'It will sting': Reserve Bank delivers 10th straight rate rise, with more to comeThe Reserve Bank of Australia (RBA) raises interest rates for the 10th consecutive meeting, taking the cash rate target to 3.6 per cent.
Read more »
RBA interest rates: Reserve Bank increases official cash rate to 3.6% in record 10th consecutive riseInterest rates at highest level since mid-2012 as central bank continues to try to drive down inflation
Read more »