Following the Reserve Bank of Australia’s (RBA) decision to lift the official cash rate (OCR) by 25 bps on Tuesday, Treasurer Jim Chalmers was quick to place the blame on the private sector, rather than his own government’s policies.
“The Board’s statement today does not mention government spending. It makes it very clear the pressure on inflation is coming from private demand”, Chalmers said via media release.
“In the Statement on Monetary Policy, the RBA upgraded their near‑term outlook for GDP and said that this was due to stronger private demand”.
