Katy Gallagher (ACT, Australian Labor Party, Shadow Minister for Finance) Share this | Hansard source

My question is to the Minister representing the Prime Minister, Senator Cormann. I refer to the RBA's decision to cut the cash rate to a new record low of 0.75 per cent. Last Friday the Australian Financial Review reported:

Finance Minister Mathias Cormann has welcomed further interest rate cuts …

Given that former Treasurer Joe Hockey once described an official cash rate more than three times as high, under Labor, as being 'beyond emergency levels', how does the minister describe the current cash rate?