Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Hansard source

Notwithstanding the Leader of the Opposition's interest in my university assays, I can provide more for him later today. I remember back in 2004, when the Howard government's slogan at the election was 'Keeping interest rates low'. I remember that well. But then they made the fatal mistake of appointing the opposition leader as the Assistant Treasurer in 2006. At that time, when he was appointed, the cash rate was 5.5 per cent. But then the Reserve Bank met on 3 May 2006, up 0.25 per cent; on 2 August 2006, up 0.25 per cent; on 8 November 2006—you guessed it—up 0.25 per cent. On 8 August 2007, do you think it went up or down? Hands up who think it went up? Hands up who think it went down. You're right. But then there's more. On 7 November 2007 did it go up or down? Hands up those who think it went up. Does anyone think it went down? No—6.75 per cent. Today the rate is 3.35 per cent. Is 6.75 higher or lower than 3.35? It sounds higher to me.

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