Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

I don't think the tightening cycle is being pursued in response to concerns about wages. The bank was clear, when those opposite were in government and the rate was sitting at about two per cent and not growing, that it was concerned at that point about wages. I think the comments they've made since, when wages started to lift, is that they would keep an eye on wages. Those are the general comments from the bank. But, again, I think, in terms of the job that they have to do, the risk of persistent high inflation is devastating. It's devastating on people on lower incomes, who will feel the hit from inflation harder than those, I would argue, who are on higher incomes. So let's not pretend there isn't an issue with inflation in this country. There is. We have to manage it, and we have to make sure— (Time expired)