Govt should ‘focus on policies they can control’, not RBA: Zali Steggall

Independent MP Zali Steggall says state governments should “focus on policies they can control” on cost of living relief rather than tell the Reserve Bank what decision to take at their board meeting next week. The Victorian, Queensland and Western Australian premiers have demanded the Reserve Bank cut interest rates to help families cope with cost of living pressures. The RBA will meet for the first time this year next week and is expected to keep rates on hold. “The beauty about the Reserve Bank is that it’s an independent body, and it’s very important for that, and we’ve just had a review of the powers of the Reserve Bank in the importance of its independence so that it can manage that policy and interest rates,” Ms Steggall told Sky News Australia. “Whilst I know we are all struggling and many in the community are hurting from the interest rate rises, they are absolutely independent of government, and so it’s really important that governments – state governments and federal government – focus on the policies they can control when it comes to assisting cost of living. “The RBA is its own responsibility when it comes to the interest rates.”