Jim Chalmers has rejected demands to rule out further interest rate rises, saying the government does not control the Reserve Bank.
Shadow treasurer Ted O’Brien asked Treasurer Jim Chalmers to guarantee there would be no further interest rate rises this year.
Chalmers dismissed the request, saying O’Brien should understand that interest rate decisions are made independently by the Reserve Bank of Australia.
He again pointed to the RBA’s statement accompanying the latest rate hike, noting it made no reference to government spending.
Chalmers accused the opposition of pretending the government sets interest rates and said Labor was working to get inflation under control because households were under pressure.
