PRIME MINISTER
TRANSCRIPT OF NEWS CONFERENc, UTILUX FACTORY, SYDNEY
SEPTEMBER 1989
E OE PROOF ONLY
JOURNALIST: Mr Hawke, I believe you've invited the Raiders
over tomorrow night.
PM: Yes, they'll be coming over, yes.
JOURNALIST: Mr Hawke, three banks have suggested that
the Government drop its 13.5% interest rate ceiling.
Do you see any value in that?
PM: I see they've made the suggestion but I'm not talking
about monetary policy on the run here.
JOURNALIST: What did you think of yesterday's game?
PM: 1 thought it was a great game. I think it was one
of the great all-time finals. It had everything. It
had the toughness, the directness, the physical clashes
of rugby league, but it also had great character I think.
The Raiders more of the play in the first half but
were well behind and then they fought back. To get that
equalising score just a minute and a half before the end
and then get it in the play-on period was just something
very special.
JOURNALIST: The banks seem determined to raise interest
rates despite your appeal last week
PM: I don't know where you get it that they seem determined
to do it. They were certainly talking about it. We'll
see what happens.
JOURNALIST: Do you think they're being greedy if they
are, given your appeal last week?
PM: I'm not making any comments about that. I'll be
talking with the Treasurer tomorrow when I get back to
Canberra. I don't want to make any comments on the run
about moneta. ry policy.
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JOURNALIST: On an associated matter Mr Hawke, Mr Elliott
has suggested the Australian dollar is too high. Do you
see any merit in that one?
PM: Mr Elliott on matters international which he's talking
about can be regarded as having no basis for recognition
at all but can be tested by the fact that he is economically
illiterate and racially offensive. Because he said that
Australia should Join the European market, the European
community which in itself is an absurdity but his
offensive remark said, he said ' after all they've taken
in Turkey. If they'll take in Turkey, anyone can be a
member.' Now that's the character of Mr Elliott's understanding
that we here could join the European community and his
comments about Turkey. I mean Mr Elliott should stick
to his business of making money. He seems to do that
pretty effectively.
JOURNALIST: Do you believe hie's a racist?
PM: I didn't say that. I said that I found his remarks
offensive about Turkey.
JOURNALIST: About your meeting tomorrow with Mr Keating.
Is there anything the Government can do to exert pressure
on the banks to keep their interest rates down..
PM: We'll talk about It tomorrow and Just see what our
perception& are of where things are going. I'm not talking
about what we're going to be doing in that discussion.
JOURNALIST: Are there things that you could be
PM: Look, I've said three times I'm not making comments
on monetary policy on the run, and even for a good persuasive
questioner like you my friend I'm not going to.
ends
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