Employment Minister Julia Gillard has once again reminded Australians that interest rates will not stay at “emergency levels” forever.
Gillard told ABC Television that she won’t speculate about what the RBA “may or may not do in the February board meeting” but she reiterated what the Reserve Bank governor Glenn Stevens said some time ago in regards to interest rates: “Interest rates won’t stay at emergency lows forever – Australians understood that.”
Recent job figures have increased the chance of the Reserve Bank implementing a fourth consecutive interest rise when it meets in February, as unemployment fell to 5.7 percent in November.
Consumer confidence dented by rate rises
Cash rate tipped to peak at 4.5 percent in 2010