Labor banks on the Reserve Bank

Labor is clearly relying on the Reserve Bank to be its political saviour.

Richard Farmer

Crikey political commentator

Banking on the Bank. Labor is clearly relying on the Reserve Bank to be its political saviour. With Prime Minister Julia Gillard and Treasurer Wayne Swan sticking resolutely to their promise of a budget surplus for the coming financial year there will clearly be plenty of losers. And taking things away from recipients is a sure fire way of becoming unpopular — even more unpopular than now if that’s possible. The government gamble is that the Reserve Bank will mitigate the coming public anger by acting to lower interest rates. It is a politically risk course.

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  1. AR

    WHAT!? No heavy metal bands in Afghanistan? Oh, the humanity!

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