- CNTV English - CCTV News

Australian gov't works to ease another hike in interest rates: Treasurer

07-15-2010 10:24 BJT

CANBERRA, July 15 (Xinhua) -- The Australian federal government has been doing everything it can to ease the inflationary pressures that could lead to another hike in interest rates, Treasurer Wayne Swan said on Thursday.

There are concerns surging consumer confidence and better-than- expected economic data will give the Reserve Bank cause to consider a rate increase in August.

But Swan said the economic situation was not that simple, citing Treasury forecasts that have trimmed Australia's predicted growth rate.

When asked whether rates would rise (before) from an election, Swan told ABC Radio on Thursday: "That's entirely a matter for the Reserve Bank.

"From a government perspective we are doing everything we possibly can to invest in capacity in the economy and ease inflationary pressures," Swan said.

Prime Minister Julia Gillard was about to present her government's economic record when she gives her first address as leader to the National Press Club later on Thursday.

On Wednesday Treasurer Wayne Swan gave an update on the nation' s economic health, which revealed Australia was on track to return to surplus within three years, and with a 3.1 billion dollars (2.73 billion U.S. dollars) surplus, which is 2 billion dollars (1.76 billion U.S. dollars) more than anticipated.

Editor:Jin Lin |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program