Greens Treasury spokesperson, Senator Nick McKim, has responded to today’s decision by the RBA to increase interest rates.

“The RBA is smashing workers, renters and recent homebuyers to try to bring down inflation that is being driven by supply shocks and corporate profiteering.

“We are hearing plenty from the government and the RBA about supply pressures.

“What we aren’t hearing from the government or the RBA is about the role of corporate profiteering.

The RBA’s decision to cut interest rates to new historic lows and start a new round of quantitative easing is a vote of no confidence in the Government’s recovery plans, Greens Economic Justice spokesperson Nick McKim says.

“This decision shows the RBA has no faith in the Liberals’ agenda of tax cuts for the super wealthy and more handouts for the big corporate polluters,” Senator McKim said.