Decision on interest rate rise ‘brave’

Decision on interest rate rise ‘brave’

The Reserve Bank Governor’s brave decision to raise interest rates again today will hit manufacturing exporters hard, the Employers & Manufacturers Association (Northern) says.

“The call to raise the official cash rate to 6.75 per cent was obviously driven by an intense regard to inflation on the domestic market,” said Alasdair Thompson, EMA’s chief executive.

“The decision won’t have been helped by the CTU’s determination not to accept a wage rise of less than five per cent for all collective agreements.”

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