The Federal Government and the Reserve Bank are pulling in opposite directions, says Colin Teese, a former deputy secretary of the Department of Trade.Just what exactly is going on? The Reserve Bank of Australia announces an increase of a quarter of one per cent in the official interest rate because of the risk of overheating in the economy. No sooner has it done so, than the Federal Government brings down a budget characterised by large tax cuts and various other measures which are bound t…
