‘Their interest rates are still higher’: Treasurer compares US economy to Australia

Treasurer Jim Chalmers has compared Australia’s economy to the US, claiming the nation’s inflation data fares better than America’s and other Western countries. “Even with that 50 basis point interest rate cut in the US, their interest rates are still higher than in Australia,” he told Sky News Political Editor Andrew Clennell. “They went up by more, inflation was higher, their interest rates went up by more, and even after this interest rate cut, they’re still higher – that’s true in the UK as well.”