The Treasurer, Chris Bowen, has defended today’s interest rate decision by the Reserve Bank, whilst the shadow Treasurer, Joe Hockey, says the economy is weakening.
At a press conference following the Bank’s decision to cut the cash rate by 25 basis points to 2.5%, Bowen said lower interest rates contributed to lower living costs for Australians, particularly in housing.
Bowen attacked the negativity of the Opposition and accused them of talking down the economy.
At his press conference, Hockey said there were clear signs of a slowing economy. He said retails sales were down.
Hockey was questioned about the costing of Opposition policies. He said the Coalition would release detailed costings and savings during the course of the election campaign.
- Listen to Bowen’s press conference (15m)
- Listen to Hockey’s press conference (22m)
- Interest Rate Movements Since 1990
