Kevin Rudd (Griffith, Australian Labor Party, Prime Minister) Share this | Hansard source

I thank the honourable member for his question and I use the opportunity of responding to his question to inform the House that at its meeting today the Reserve Bank board decided to leave the cash rate unchanged at three per cent. As the honourable member would know, neither this government nor any of its predecessors predicts future movements in interest rates. That lies within the preserve of the Reserve Bank. Secondly, on the question of bond rates for public debt, I would refer the honourable member to the answer I delivered to his first question in question time today, which went to the basis upon which we projected bond rates in the budget papers.

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