In your editorial on interest rates, ‘As political theatre this doesn’t rate’ (WA Business News, April 14) you say: “From what I recall, Mr Howard never made a promise that interest rates wouldn’t rise...”
During the election campaign, the Liberal Party invited voters to “look at what we have done so far”. Interest rates were at 7.15 per cent, whereas under Labor they had been as high as 12.75 per cent.
“Who do you trust to keep interest rates low?” the Liberals asked.
“Australians with a mortgage are saving hundreds of dollars a month from lower interest rates ... we will run strong budgets, keeping interest rates low.”
We might have to call in the linguists and the semanticists, but saying they will keep interest rates low sounds like a promise to me.