Malcolm Turnbull (Wentworth, Liberal Party, Shadow Treasurer) Share this | Hansard source

My question is addressed to the Treasurer. I refer the Treasurer to the statement of the Reserve Bank Governor, Glenn Stevens, on 11 December last year when he said:

When people expect prices to rise rapidly, they bring forward purchases, put up their own prices, demand higher wages and so on. That helps to create the very inflation they expect.

Does the Treasurer accept that his statement the day before the Reserve Bank met in February that ‘the inflation genie is out of the bottle’ served to fuel inflationary expectations? Does the Treasurer really understand what he is doing to the Australian economy?

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