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.”
Josh Frydenberg on uncertain economic times
Word from the Hill: A reprimand for Christensen and Morrison on climate
Shadow Treasurer Jim Chalmers on promoting vaccine uptake and a 'modest spending program'
a four-stage plan and a $300 payment to get vaccinated
Bob Brown on his latest environmental battle, and a critique of Labor
Word from The Hill: three states in lockdown
Barnaby Joyce on net zero 2050, a coal-fired power station – and how resources is (sort of) in cabinet
Word from the Hill: Julia Banks and international travel caps
Jacinta Price's parliamentary agenda
Word from The Hill: the return to lockdown
Sussan Ley and Terri Butler on the Great Barrier Reef being 'in danger'
Word from The Hill: Australia's new Deputy Prime Minister Barnaby Joyce, climate policy and UNESCO
Acting PM Michael McCormack on net zero 2050 and prospects for a new coal-fired power station
Word from The Hill: the Biloela Tamil family, G7 and the upcoming parliamentary fortnight
Rex Patrick on Freedom of Information and Australia's submarines
Word from The Hill
Mark Butler on the vaccine rollout and democracy in the Labor Party
Katy Gallagher on the battle to hold the government to account
Richard Colbeck on aged care and the Olympics
Simon Birmingham and Jim Chalmers on a big spending budget
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