CANBERRA, ACT, March 17 -- The Treasurer of Australia issued the following transcript:
Note
Subjects: Reserve Bank interest rate announcement, ACCC action over fuel pricing, petrol rationing
Jim Chalmers:
As you know, the Reserve Bank decided to increase interest rates to 4.1percent today. You can see in the statement that it was a close vote and it was a close call, and I think that reflects the uncertainty that we're seeing in the global economy, and the statement refers to risks in both directions in that regard.
This is obviously not the decision that lots of Australians were hoping for. It's not a surprising decision, but that doesn't make it any easier for millions of Australians with a mortgage. We've got an inflation challenge ...