howard telling porkies on interest rates

from the net -

Mr Howard said this am

"Even with the increase announced today, they [interest rates] are still lower than at any time under the previous government and close to two percentage points lower than what we inherited in 1996," he said.

Have a look at the following data from the RBA

Date Target cash rate
31 Jul 1996 7.00 (post Howard)
14 Dec 1994 7.50 (pre Howard)
24 Oct 1994 6.50
17 Aug 1994 5.50
30 Jul 1993 4.75
23 Mar 1993 5.25
8 Jul 1992 5.75
6 May 1992 6.50
8 Jan 1992 7.50


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how howard gets away with this rubbish is beyond me - where are the press to question him

we can only thank hawke / keating for the reforms that they carried out.

for those in western australia, great news that most of the mandurah - to perth railway has been completed, ahead of the time when there will be extra pressure on the states runaway economy

that is the type of investment in infrastructure that is needed for this country

frankly, it would probably be a good idea if some mining projects were put on hold - as the economy is struggling to cope - imported workers put strains on all types of things - such as housing, which used to be amongst the cheapest in the nation, and now the most expensive (or almost the most expensive)