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Tuesday, 5 November 1985
Page: 1516

Senator Dame MARGARET GUILFOYLE —I direct a question to the Minister representing the Treasurer. Is the Reserve Bank of Australia likely to have to impose even tighter monetary policies in support of the Australian dollar which is under renewed pressure as a result of yesterday's national wage case and last week's broad money figures? Does the Minister agree with economist Mr Will Buttrose who said on the AM program today that short term interest rates could rise by another one per cent by the end of the year and that there was little prospect of an easing in rates before the middle of next year?

Senator WALSH —I certainly would not take any notice of what Mr Buttrose says about this matter or anything else. He has a record of inaccuracy that is probably equalled or exceeded only by advisers to the former Treasurer. I do not have any brief on the more general question. The Treasurer has still not returned to Australia, but when he does return I will put the question to him and see what response, if any, he cares to make.