Interesting quotes from the SMH today:
Swan claims credit
The series of RBA rate cuts was made possible by the government's fiscal displine, Mr Swan told a media briefing.
‘‘Today’s interest rate cut and the two before have been made possible by disciplined fiscal policy delivered by this government,’’ the Treasurer said. ‘‘A responsible approach to the budget and disciplined fiscal policy is very important given the economic circumstances in which Australia finds itself and given global uncertainty.’’
Returning the budget to surplus "ensures that the government is not generating price pressures in the economy," Mr Swan Swan said. ‘‘It does give the Reserve Bank of Australia the maximum flexibility to cut interest rates if they think that is appropriate.’’
