Jim Chalmers 2022

Jim Chalmers:

Today as you know the Reserve Bank left interest rates on hold.

This is not the outcome that millions of Australians were hoping for or the outcome that economists or the market was expecting.

Today the independent Reserve Bank left interest rates on hold at 3.85 per cent.

It’s not the result millions of Australians were hoping for or what the market was expecting.

We have made substantial and sustained progress on inflation which is why interest rates have already been cut twice in five months this year.

Today we’re issuing more invitations to the Government’s Economic Reform Roundtable.

The Roundtable is an important opportunity to build consensus for long term economic reform.

This initial group includes leading voices from business, unions, the community sector and our key economic institutions.

Today I have taken action in the Federal Court of Australia against Indian Ocean International Shipping and Service Company Ltd (Indian Ocean) and its former associate for not complying with Australia’s foreign investment law.

Foreign investors in Australia are required to follow Australian law.

Jim Chalmers:

New figures from the ABS show that headline and underlying inflation are now both in the bottom half of the Reserve Bank of Australia’s target band for the first time since August 2021.

In the face of heightened global economic uncertainty, it’s very pleasing to see the progress we’ve made on inflation is substantial and now sustained.

Karl Stefanovic:

Well, Donald Trump has somewhere over the rainbow this morning. Check this out.

[Excerpt]

Donald Trump:

They basically have two countries that have been fighting so long and so hard that they don’t know what the [beep] they’re doing. Do you understand that?

Peter Stefanovic:

Federal Treasurer Jim Chalmers joins us live now. Treasurer, thank you for your time this morning. So we will get to that in just a moment. I just want to start off with the Middle East, if you don’t mind. Can you elaborate on the successful evacuations so far and the work that’s being done to get the rest out of the region?

James Glenday:

The federal Treasurer Jim Chalmers joins us now from beautiful sunny Brisbane. It’s always lovely in Brisbane, isn’t it, Treasurer?

Jim Chalmers:

It sure is, it’s another beautiful day here. Nice to talk to you, James.

Glenday:

Jim Chalmers: