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Article: Fed: The rate rise we had to have?
- Article from:
- AAP General News (Australia)
- Article date:
- August 2, 2006
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AAP General News (Australia)
08-02-2006
Fed: The rate rise we had to have?
By Shane Wright, Economics Correspondent
CANBERRA, Aug 2 AAP - John Howard almost said it - this was the interest rate rise
we had to have.
For a week Mr Howard, and Treasurer Peter Costello, have talked about the way bananas
and petrol have mixed to push up inflation.
Collectively, they suggested the Reserve Bank should "look through" these one-off factors
to get a real reading on price pressures before deciding on a rate rise.
But within two hours of the bank announcing rates would rise to their highest level
since 2001, Mr Howard was saying the bank would have been wrong not to have lifted rates.
To ...