00:00I think the fact that rates remained on hold and have done so for months now is welcome
00:06news with all the speculation about whether rates were going up, particularly in the previous
00:12week. So I think households probably had a sigh of relief because we know cost of living
00:18is a major issue across all households. So the fact that they remained on hold is welcome.
00:25We look carefully at what the Governor is saying. Obviously the Treasurer works pretty
00:29closely and communicates closely with her. So I think the messages she gave yesterday
00:35are the Bank's assessment on the economy and the job the Government's got to do is to make
00:41sure that we're not adding to any pressure and that the spending that we're doing, the
00:46measures that we're doing, are putting downward pressure on inflation as it comes down. And
00:50it's moderated significantly, but the last bit to get it back into the target range doesn't
00:57necessarily happen in a straight line.
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