Interest rate cut ‘critical’ to Labor’s ‘political fortunes’ in next federal election

Former Howard government minister Peter McGauran says an interest rate cut is critical to Labor’s “political fortunes” in the next federal election. “I can’t see there being an interest rate drop this year but next year, you could get some movement downwards,” he told Sky News Australia. “And that’s what the government’s relying on leading into a March or May election.”