Reserve Bank urged to not ‘overreact’ toward inflation #Reserve #Bank #urged #overreact #inflation #englishheadline


Australian Chamber of Commerce and Industry CEO Andrew McKellar says they are urging the Reserve Bank to be “cautious” and to not “overreact” to December’s inflation rate of 7.8 per cent.

“If we have to rely on further interest rate increases then we don’t want to see that squeezing the life out of the economy,” Mr McKellar told Englishheadline Australia.

“We want to preserve as much strength as we can.

“The government in its budget will have to make some tough decisions – the focus has got to be on the expenditure side of the budget.

“We can’t have a situation where they’re contemplating new taxes or tax increases.”

English Headline

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