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Saturday, February 19, 2005
The outgoing governor of the Reserve Bank of Australia, Ian Macfarlane, has warned that the Australian economy will probably begin to slow after over a decade of solid growth. Mr Macfarlane, in a speech to the House of Representatives, said that both interest rates and inflation were likely to rise. "We forecast gradual rises in underlying inflation, with it reaching 2½ per cent by end 2005 and 3 per cent by end 2006."
The Prime Minister, John Howard, responded to the news by saying that "We will never go back to the 17 per cent interest rates under this Government" and added that homeownership "should always be something which is kept within the reach of Australians on modest incomes."
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This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.
Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.
Note that some listed sources or external links may no longer be available online due to age.
