Qld: Palaszczuk warns on rate rises

AAP General News (Australia)
12-02-2003
Qld: Palaszczuk warns on rate rises

Queensland Primary Industries Minister HENRY PALASZCZUK says the Reserve Bank should
consider the effect of an increase in official interest rates on the farming sector.

Mr PALASZCZUK says the farm sector is still gripped by drought.

He says a further interest rate rise tomorrow -- on top of last month's 0.25 per cent
increase -- would apply unwanted pressures on producers by increasing loan repayments.

Mr PALASZCZUK says increasing interest rates would also buoy the Australian dollar,
which has rapidly risen to over 70 US cents in the past year, hurting exports.

AAP RTV ch/sc/rca e

KEYWORD: RATES QLD (BRISBANE)

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