Jim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | Hansard source

The point that the Reserve Bank governor made yesterday, which I welcome because it is 100 per cent consistent with the point that I've made on a number of occasions, is that my major focus—this government's major focus—is the fight against inflation. That's what Governor Bullock said yesterday. Governor Bullock acknowledged again that my main focus and our main focus is fighting inflation. She said, in a way that I'm perfectly comfortable with, that, when I talk privately with the Governor of the Reserve Bank, I make it clear that inflation is our highest priority.

That's not the only point that Governor Bullock made yesterday. She made three major points. That was one of them. In another major point that she made, she reminded those opposite and the country more broadly that, when it comes to inflation, public demand is not the main game. She said that again yesterday. The third important point that was made yesterday by the governor in her press conference and in her statement is that inflation has fallen substantially from its peaks in 2022 and is coming back to target in a reasonable way—another good point made by the Reserve Bank governor.

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