Please excuse my self-indulgence here. I am warehousing this article for future reference.
Should John Howard make it back as PM, then these rate rises will be regrettable but nothing to apologise for, and certainly not the fault of the Government.
Should Kevin Rudd become Prime Minister then, trumpeting from the Howard camp, will be the obvious cries that any rate increase is due totally to the Labor Government and their incompetence.
In reality, any rate rises through to the end of 2009 will be due to the incompetence of the, by then, defunct Howard policies. Posted Reserve Bank: The quarterly statement on monetary policy has revised up the forecast for underlying inflation (AFP: Torsten Blackwood) The Reserve Bank of Australia (RBA) has indicated that interest rates could continue to rise because of higher short-term inflation. After increasing the official cash rate an 11-year high to 6.75 per cent last week, the central bank has this morning signalled rates may have even further to go. In its quarterly statement on monetary policy the bank has revised up its forecast for underlying inflation for 3.25 per cent for the rest of the year and into 2008. That exceeds the bank’s target range of between 2 and 3 per cent and builds the case for further rate rises, possibly as early as next month.
RBA states case for more rate hikes
Updated 
Filed under: Australia, politics | Tagged: , Australia, government, interest rates, liberal party. labor party, politics, reserve bank
I STILL don’t understand how the Australian people can forget the “Triple Ten” fiasco that Howard presided over when he was Fraser’s Treasurer??? 10%+ Inflation, 10%+ Unemployment, and 10%+ Interest Rates! It HAPPENED, people!!! Remember???! He lied in the past, he is lying now, and will lie into the future … and Costello won’t be any better. Just more rigidly “embalmed” in Conservative ideology! “To Save ONE Dollar” is his mantra. And be damned the people it hurts!
Buff, I think some commentators are starting to mention that – it has only taken them 11 years to do it!