The expectation is that this will almost certainly trigger an interest rate rise when the Reserve Bank meets November 6, ahead of the November 24. It would be the first ever interest rate rise during an election campaign in this country.
John Howard campaigns on his economic credibility, and promised no rate rises during his last campaign. The bad news for him is that this will be number 6, a long way from zero.
The government are still pushing the full employment line, but failing to explain the 30% part time counted into that equation. In the end what they say is moot, it is what people feel. Those wavering in the comfort stakes will be bowled over by another hike.
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