CANBERRA, ACT, Aug. 12 -- The Treasurer of Australia issued the following transcript:
Note
Subjects: interest rates decision, productivity, Economic Reform Roundtable
PatriciaKarvelas:
Returning to the Reserve Bank's decision to cut rates, I want to bring in the Treasurer, JimChalmers. Treasurer, welcome to the program.
JimChalmers:
Thanks, Patricia.
Karvelas:
Treasurer, this is the third rate cut this year. How meaningful is the relief this will provide to households that have been burdened with the cost of living?
Chalmers:
It's a really welcome decision by the independent Reserve Bank. As you rightly point out, this is the third interest rate cut in the space of just 6months. And what it means is if you owe $700,000, it's about...