‘Political problem’ for Albanese: ‘No rate cut’ before the election

Bondi Partners Senior Adviser Peter McGauran has warned Prime Minister Anthony Albanese the prospect of “no rate cut” before the next federal election will be a “political problem” for his government. The latest national accounts data for the September quarter reveals a 0.3 per cent GDP growth, according to the Australian Bureau of Statistics. The national accounts figures also showed an annual GDP growth of 0.8 per cent. “There’s no relief for the government coming on interest rates,” Mr McGauran told Sky News Australia. “You can say, with certainty, there is no interest rate cut before the next election, and that causes political problems for the Prime Minister, particularly about the timing of the election.”