Government Suddenly Happy To Claim Responsibility For Interest Rates As RBA Keeps Them On Hold

WENDELL HUSSEY | Cadet | CONTACT

The Federal Government have today moved to pat themselves on the back, after a big decision from the RBA.

With the Reserve Bank of Australia announcing that the cash rate will be kept on hold at 4.35%, Treasurer Jim Chalmers and Prime Minister Anthony Albanese have told them nation to thank them now, and or later.

"Yeah at the polls in a couple of years is fine," laughed the Treasurer after Michelle Bullock confirmed the good news for mortgage holders.

Bullock threatened that further hikes could be coming this year, but many analysts are looking at their magic spreadsheets and saying they don't think there's another one coming this year.

The relief for anyone who owes money to a financial institution comes after a couple of years of recurring shocks to the system, which the government has been at pains to seperate themselves from.

However, with some good news arriving, and more hopefully on the horizon, the government is now keen to take responsibility for the actions of the RBA.

"Look, it's a testament to the fact that we've steadied the ship," laughed the Prime Minister in his daily debrief with The Advocate.

"So yeah, this one was definitely us," confirmed the man who has spent a few years distancing himself from the extremely unpopular actions of the Reserve Bank of Australia who have been given very little power to do anything other than raise interest rates because global factors drive up the prices of thing.

"Thanks for coming."