Sky News host Sharri Markson says Treasurer Jim Chalmers is planning to introduce a way to “hold the RBA accountable” for the advice it gives to Australians.
There’s been nine consecutive rate rises despite Reserve Bank Governor Philip Lowe saying early in the pandemic that interest rates would remain at record lows until 2024.
“The RBA is walking a tightrope – raising rates to tackle inflation that has reached a 30-year high of 7.8 per cent,” Ms Markson said. “But, given Philip Lowe’s track record, how can we have any confidence that he’s getting the balance right between reining in inflation and avoiding sending us into recession?”
She said meanwhile, the Labor government needs to ensure it’s not “making the inflation crisis worse”.
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