I’d been wondering about the propriety of the constant interventions by the PM and Treasurer and other less distinguished Ministers on interest rates. Peter Hartcher speculates in the SMH that this tactic may backfire, with the Reserve tempted to raise rates next month to prove its immunity from political pressure. It seems also that the Reserve asked the AEC to investigate Coalition election material on rates and was deeply concerned about the politicisation of monetary policy settings in the election campaign last year.
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Howard really needs to start shutting up when it comes to the topic of whether or not is is an appropriate time to raise interest rates. It is not his decision. His frequent recent attempts to politicise interest rate rises (and paint the RBA as the bad guy) are lamentable.
Howard really needs to start shutting up when it comes to the topic of whether or not is is an appropriate time to raise interest rates. It is not his decision. His frequent recent attempts to politicise interest rate rises (and paint the RBA as the bad guy) are lamentable.
Guy, I don’t think he can help himself, interest rates going up represent his and the LNP’s disgrace and defeat—Wouldn’t put it past him with Senate control to try to take back the power.—Interest rate considerations are the most sensitive in the whole of Howard’s nervous body politic. (Hard though sometimes to repress the schadenfreude as it happens?)
Guy, I don’t think he can help himself, interest rates going up represent his and the LNP’s disgrace and defeat—Wouldn’t put it past him with Senate control to try to take back the power.—Interest rate considerations are the most sensitive in the whole of Howard’s nervous body politic. (Hard though sometimes to repress the schadenfreude as it happens?)
My credit card bills normally are sufficient to repress the schadenfreude, Peter!
My credit card bills normally are sufficient to repress the schadenfreude, Peter!
Agreed Mark, one has to have a selective memory to a double edged sword with the credit card/mortgage pointy end. But as they said in Germany a long time ago, as a parody on young gels joining the pudding club, ‘we lose our strength through joy’–endless double meanings from that!
Agreed Mark, one has to have a selective memory to a double edged sword with the credit card/mortgage pointy end. But as they said in Germany a long time ago, as a parody on young gels joining the pudding club, ‘we lose our strength through joy’–endless double meanings from that!
“It seems also that the Reserve asked the AEC to investigate Coalition election material on rates and was deeply concerned about the politicisation of monetary policy settings in the election campaign last year.”
It does appear they were truly concerned, rather than just passing on public complaints as the Govt would have it.
The AEC told them to write to the guy whose name was on the electoral material. They did and asked him to desist, but it turns out the bit of paper they had was from Dana Vale’s electorate and had the name of one of her strappers on it.
So Costello can still claim that the Liberal party wasn’t approached by the Reverve Bank.
“It seems also that the Reserve asked the AEC to investigate Coalition election material on rates and was deeply concerned about the politicisation of monetary policy settings in the election campaign last year.”
It does appear they were truly concerned, rather than just passing on public complaints as the Govt would have it.
The AEC told them to write to the guy whose name was on the electoral material. They did and asked him to desist, but it turns out the bit of paper they had was from Dana Vale’s electorate and had the name of one of her strappers on it.
So Costello can still claim that the Liberal party wasn’t approached by the Reverve Bank.