Fed: Turnbull - Rates rise "over-dramatised"

AAP General News (Australia)
08-07-2006
Fed: Turnbull - Rates rise "over-dramatised"

Liberal backbencher MALCOLM TURNBULL says the latest interest rate rise has been over-dramatised.

The Reserve Bank lifted the official rate by one quarter of a percentage point to six
per cent last week .. the third rise since the 2004 election.

Mr TURNBULL says it was a significant decision .. but it was one quarter of one per cent.

And he says petrol prices haven't been a major talking point in his inner Sydney electorate
of Wentworth .. which is one of the smallest in Australia .. with the largest percentage
of public transport commuters.

AAP RTV pv/jmt

KEYWORD: RATES TURNBULL (CANBERRA)

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