Former RBA chief criticises PM on rates

Former Reserve Bank of Australia governor Bernie Fraser said in an interview he expects interest rates to rise straight after the election, partly because of what he sees as the lax budgetary policies of the Howard government.

In an interview with Bloomberg, Mr Fraser said the government had squandered its fiscal position with unnecessary budget handouts, placing upward pressure on interest rates in the process.

"There's no doubt in my mind the Reserve Bank will be nudging rates up, and I think

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