CANBERRA, ACT, Sept. 29 -- The Treasurer of Australia issued the following transcript:
Jim Chalmers:
Well today as expected the independent Reserve Bank increased interest rates by a quarter of a percentage point. Australians are under pressure already and we know that this will make things harder for people. The fact that inflation and interest rates are going up right around the world doesn't take the sting out of this for Australians who are already doing it tough.
The Reserve Bank's statement makes it really clear that we have an inflation challenge in our economy which is made worse by the war in the Middle East. The statement makes it abundantly clear that one of the main drivers of inflation in our economy is a conflict on the oth...