Jane Hume called on Labor to do more to ease cost of living pain for struggling Australians, but entered into a back-and-forth on Sky News Australia over what budget spending should be pared back to tame inflation.
announced Ms Bullock will replace Philip Lowe as the ninth Governor of the Reserve Bank of AustraliaRecently, Mr Lowe had come under intense scrutiny over the RBA's 12 interest rate hikes since May last year and copped backlash for being"out of touch" as the central bank focused on ensuring inflation was heading back to its two to three per cent target range.
“Just changing the Reserve Bank governor, of course, doesn’t change the pain that Australians are feeling every single day at the bowser, and at the checkout and when they pay their energy bills and their mortgages," she told News Day host Tom Connell. She argued Labor's budget spending was inflationary with $185 billion on additional spending in the last 12 months, as well as an additional $2 billion in the last month, which had only put more onus on the Reserve Bank.
In an attempt to dodge the question Ms Hume argued that while headline inflation lowered last month, core inflation had only moved from 6.5 per cent to 6.4 per cent. Connell interjected, arguing the RBA stated they believed inflation has peaked before again asking Ms Hume:"What are you saying, specifically, what spending can be unwound to do that?"
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