Politics with Michelle Grattan
News:Politics
After Wednesday’s larger-than-expected inflation number, all attention has turned to the Reserve Bank’s meeting on Tuesday. If the bank moves next week, it will be the first time there’s been a rise in a campaign since 2007, the election John Howard lost.
Pointing to recent rate rises overseas, independent economist Saul Eslake says: “If the Reserve Bank were to do nothing in the face of this much sharper-than-expected acceleration in inflation, it would be leaving itself open to a charge of acting in a political way, which would undermine its credibility for an extended period.
"So I think the Reserve Bank really has to raise interest rates at its meeting next week.” If it doesn’t, Governor Philip Lowe would require “a very persuasive explanation”.
If the bank didn’t act next week, it could subsequently have to make a 75 basis points rise in one hit, “which would be a considerable shock to the mortgage-paying population in particular, but I think for small businesses and a whole lot of other participants in Australia’s economy more broadly.”
David Littleproud on charting his course in opposition
Word from The Hill: Morrison faces inquiry into how he flouted responsible government
Crossbencher Helen Haines on Morrison and integrity
On Scott Morrison’s bizarre power grab
How far will China go? La Trobe’s Nick Bisley says China’s ’risk appetite’ has gone up
Tom Calma on the Indigenous Voice to parliament
Peter Dutton puts nuclear power on opposition’s agenda
Is Morrison’s absence from parliament disrespectful to his voters?
Health Minister Mark Butler warns COVID wave will worsen
‘Pandemic fatigue’ takes its toll of mandates and even the expert health advice
Politics with Michelle Grattan: Jason Clare on Australia’s education challenges
People’s pockets hit again, with rate rise and floods set to boost veggie prices
Parliamentary ‘newbies’ inspect their workplace, with some complaints
Greg Barns on the battle to free Julian Assange
On the economy, people smugglers, parliamentary sitting, and Julian Assange
Tony Wood on the unprecedented energy crisis
Bowen says “bumpy” time ahead for power supply – but don’t turn the heater off
Warm smiles in Indonesia, but chillier news
Tony Burke advocates on wages and arts
Word from The Hill: Albanese’s ministry mixes stability and surprise
Create your
podcast in
minutes
It is Free