It's not rocket science, interest rates have nothing to do with governments. Everyday people who spend money in a shop would have more blame for interest rate hikes than any politician.
Who is stupid enough to think interest rates were going to stay down? They were going to go up no matter who was in as a consequence of trade, market boom/bust cycles and the impacts of previous governments policies.
labors now in and the interest rates have gone up ALREADY!(the first sign of trouble and they will somehow blame Mr. Howard..already have)Rates were around NINETEEN % when labor was in before. Mr. Howard got them DOWN to around Five % and our millions of deficiet into SURPLUS! You're houses are FULL..australia is one of the Best countries in the world and yet you STILL COMPLAIN!
Just a thought to leave you..labor means-hard labor.Liberal means..FREEDOM. What did you vote for?
Howard stated he would keep at "record" lows, they are not at record lows now! get your facts right. Howards yet again mislead all of us. Time to go Howard the sooner the better
One, the federal Government is not to blame for the interest rate rise. The rate is set by the Reserve Bank on the basis of the way we spend our money. We spend too much or borrow too much and there is the (not so) small matter of inflation that also needs to be held in check so that we can do business with the rest of the world
Government spending contributes to the aggregate demand of the economy, and unless this spending helps to build the capacity of the economy, inflationary pressures will mount.
RBA chairman is put in place by the government of the time. RBA sets the interest rates independently of the government of the time, but the government is responsible for influencing most of the expenditure policies of the general public, hence THE GOVERNMENT IS TO BLAME FOR THE INCREASES IN INTEREST RATES.
but in that case, you should still blame John Howard for promising that they would not rise, considering he didn't have absolute power to influence them.
It's not rocket science, interest rates have nothing to do with governments. Everyday people who spend money in a shop would have more blame for interest rate hikes than any politician.
AndyG1678 1 year ago
Who is stupid enough to think interest rates were going to stay down? They were going to go up no matter who was in as a consequence of trade, market boom/bust cycles and the impacts of previous governments policies.
Tuathalful 1 year ago
@Tuathalful
John Howard.
leighgridley 1 year ago
Good governance! Good grief.
Sent the Government surplus into freefall.
Smashed the solar panel industry.
Trashing the genuine home insulation industry.
Farcical Green Loans program.
Concentrated financial power into the hands of the Big 4 banks, crippling regioanl and other financial insitutions.
Reversing the superannuation reforms so people could fund their own retirement.
wyrwich 2 years ago
labors now in and the interest rates have gone up ALREADY!(the first sign of trouble and they will somehow blame Mr. Howard..already have)Rates were around NINETEEN % when labor was in before. Mr. Howard got them DOWN to around Five % and our millions of deficiet into SURPLUS! You're houses are FULL..australia is one of the Best countries in the world and yet you STILL COMPLAIN!
Just a thought to leave you..labor means-hard labor.Liberal means..FREEDOM. What did you vote for?
Guess.
jasonguy18 4 years ago
Howard cant run the economy! what a tool. KEVIN 07!
royce555 4 years ago
He never said that they would not rise, he said he would keep them low.
You can argue he has kept his promise.
ombipol 4 years ago
Howard stated he would keep at "record" lows, they are not at record lows now! get your facts right. Howards yet again mislead all of us. Time to go Howard the sooner the better
GeorgeB1965 4 years ago
hell no!
171277 4 years ago
No he didnt, he did Promise
Steven2690 3 years ago
Would the resource boom have anything to do with interest rates rising?
dabonion 4 years ago
One, the federal Government is not to blame for the interest rate rise. The rate is set by the Reserve Bank on the basis of the way we spend our money. We spend too much or borrow too much and there is the (not so) small matter of inflation that also needs to be held in check so that we can do business with the rest of the world
icmull 4 years ago
Government spending contributes to the aggregate demand of the economy, and unless this spending helps to build the capacity of the economy, inflationary pressures will mount.
RBA chairman is put in place by the government of the time. RBA sets the interest rates independently of the government of the time, but the government is responsible for influencing most of the expenditure policies of the general public, hence THE GOVERNMENT IS TO BLAME FOR THE INCREASES IN INTEREST RATES.
s1625 4 years ago
its both factors.
interest rates went up under howard because the economy was so strong and business booming that people were confident and spending lots of money.
under the ALP we had lots of government spending that meant high interest rates
liber8me 3 years ago
I would agree with you -
but in that case, you should still blame John Howard for promising that they would not rise, considering he didn't have absolute power to influence them.
hurikai 4 years ago