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Friday, 3 December 1976
Page: 3226

Mr UREN -Will the Prime Minister confirm that he said on television last night that the minor adjustments to interest rates announced by the Treasurer yesterday are the only adjustments to monetary policy which will be needed to offset the inflationary effects of devaluation? On what policy tool does the Government plan to depend in its future fight against inflation?

Mr MALCOLM FRASER -The Government uses all 4 arms of policy in its fight against inflation. It uses its budgetary arm, its monetary arm, external policy and wages policy. The action that had been advised to us by the authorities in relation to interest rates was completed in the markets a day or two ago.

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