C ' 4
PRIME MINISTER
TRANSCRIPT OF THE PRIME MINISTER, THE HON P J KEATING MP
DOORSTOP AT THE SUNBURY CAMPUS OF THE VICTORIA
UNIVERSITY OF TECHNOLOGY, VICTORIA, 12 MAY 1995
E& OE PROOF COPY
J: Mr Keating, do you have any comment on the National Australia Bank
half a per cent drop?
PM: This is certainly a good trend and I think it will come as welcome news
to home owners that some of the financial institutions are now starting
to begin to drop their rates after having seen the Budget. We've seen
now, I think, the National Australia Bank drop its fixed rate by about 1
per cent and, I think, Westpac by about half a per cent a week or so
ago and we are seeing the trend accelerate. So, that's a good thing
and an encouraging thing and this proves the fact that with the long
bond rate coming down after the Budget, and now these housing rates
starting to respond, that a lot of the pressure that we had on interest
rates, the Budget is starting to dissipate.
J: Do you think that will become widespread among the other banks?
PM: Well it's going to be a factor in the financial markets. The Government
this year, as a result of the Budget, is going to be selling $ 15 billion
less worth of bonds -that is, $ 15,000 million less worth of
Commonwealth bonds -and that's taken a lot of the pressure off
interest rates.
ends
Keating, Paul
Period of Service: 20/12/1991 - 11/03/1996
Find more information on Keating, Paul on the:
Release Date:
12/05/1995
Release Type:
Interview
Transcript ID:
9580
Document:
00009580.pdf
1 Page(s)
Released by:
- Keating, Paul John
TRANSCRIPT OF THE PRIME MINISTER, THE HON P J KEATING MP DOORSTOP AT THE SUNBURY CAMPUS OF THE VICTORIA UNIVERSITY OF TECHNOLOGY, VICTORIA, 12 MAY 1995
9580