Bill Shorten and Neil Mitchell have exchanged fiery words over concerns further interest rate hikes will heap pressure on Aussie families as the Labor Minister accused the veteran broadcaster of “rewriting history”.
Families across Australia were likely left worried this week when Deutsche Bank flagged the possibility the RBA could continue its rapid increase in the cash rate.
When he was grilled on the Today program on Tuesday, Mr Shorten said it was purely a decision for the Reserve Bank but added he hoped the German bank’s predictions were “wrong”. But the long-time 3AW radio host hit back at the former Labor leader and said the government needed to take responsibility for solving major cost of living concerns.
“Let's be consistent. What are you going to do? If they move this way, people since April will be looking at extra $250 a week, an extra $250 a week on a 500,000 mortgage?” Mr Shorten said the government had always left monetary policy to the RBA since returning to power in May last year. Mr Shorten snapped back and questioned whether the broadcaster was suggesting the government should seize control of cash rates, but Mitchell rejected the claim.
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