Punters haven’t (yet) blamed Chalmers for rate rises. That will change
At the same time the government is claiming it is working hand in glove with the RBA on the inflation challenges, it is going gangbusters on promoting high wage rises without a mention of productivity.
On Monday, the day before the Reserve Bank raised interest rates for the 12th time in 14 months, Treasurer Jim Chalmers sought to firewall the government from what he knew was coming.
He noted that last week, RBA governor Philip Lowe had effectively exonerated the May 9 federal budget by telling a Senate estimates committee, “I don’t think that the budget is adding to inflation, its actually reducing inflation.”
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Phillip Coorey is the political editor based in Canberra. He is a two-time winner of the Paul Lyneham award for press gallery excellence. Connect with Phillip on Facebook and Twitter. Email Phillip at pcoorey@afr.com
