SHARE ON

Peter Costello says RBA ‘irresponsible’ on rates, but who is responsible for housing affordability?

Former Treasurer Peter Costello has labelled the Reserve Bank of Australia “irresponsible” for stating it would keep interest rates where they are until 2024. While the RBA has now dropped that wording, the central bank is saying it is “plausible” that rates will stay where they are until 2024. “It was an irresponsible statement to make that they could hold that rate until 2024,” Mr Costello told ABC’s 7.30. “I suppose they were saying to people, ‘Try and get a fixed mortgage because we can hold the rates out to 2024.’ “They now admit they can’t hold that rate…