Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Hansard source

I do take statements from the Reserve Bank very seriously. I take them very seriously when they talk about inflationary pressures in the Australian economy. I take them very seriously. But the facts are these: following the introduction of Work Choices the Australian people had six interest rate rises. There have been seven interest rate rises driven by inflation in the Australian economy in the last three years—seven interest rate rises driven by elevated inflation. Why is the Reserve Bank important here? Because its job is to target inflation. That is what its job is: to target inflation.

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