PM Transcripts

PRIME ' MINISTER
TRANSCRIPT OF PRESS CONFERENCE BALL ARAr AiRP9r
24 January 1986
E & 0E PROOF ONLY
JOURNAPLIST: Mr H-awke, it is good news for the Australian
dollar today.
FM: Yes, it is good news. As In most things in economics
though, there are two sides to every picture. The rural
community and our manufacturers WeO* e benefitting more when
the dollar was down lower. But the~ re is no doubt overall
the dollar had to come up. It was in Australia's best interests
that that happen.
JOURNALIST: Do you think iL will see a fall In interest
rates perhaps?
PM: Well, it is situations like this make statements
likely to influence the market. I simply wanlt to say what
I have said earlier though, that an improvement in the dollar
exchange rate was essential condition for creating a move
downward in interest rates. And we are pleased therefore
that that condition has emerged.
JOURNALIST: inaudible question
PM: changes that take place price of crudc and
the value of-the dollar and see just what decision is necessary
K -to continue the policy that we have successfully adhered
to now for three years. We have made a series of economic
policy decisions which have produced the best rate of economic
growth of any of the OECD countries. That is what Australia
enjoys. We have got the best rate of employment growth
of any OECD, the highest rate of employment of growth in
Australia's history. Those things haven't happened by accident.
Thiey have come from careful consideration of all the relevant
factors that have to be taken into account. And then the
making of tho right combination of policy decisions. Anid
that is what we will continue to do.
endu