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Fed: Rate rise will hurt young families - Labor


AAP General News (Australia)
12-03-2003
Fed: Rate rise will hurt young families - Labor

Labor's acting treasury spokesman BOB MCMULLAN says today's interest rate rise won't be the last.

And he says it will place increasing pressure on young families to meet mortgage repayments.

The Reserve Bank today announced interest rates would rise by another a quarter of
a percentage points.

The rise -- the second in two months -- will take the official cash rate to 5.25 per
cent, its highest level in more than two and a half years.

Mr MCMULLAN says the RBA's statement on today's rise indicates there are more rate
rises on the way.

AAP RTV sal/sb/rca/rt

KEYWORD: RATES MCMULLAN (CANBERRA)

2003 AAP Information Services Pty Limited (AAP) or its Licensors.

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