Macfarlane disappointed by election comments

The Reserve Bank of Australia believes the Coalition's 2004 election promise to keep interest rates lower than Labor compromised the independence of the central bank in the minds of many voters.

Outgoing bank governor Ian Macfarlane said in a radio interview on Sunday that he had been disappointed by the Coalition's election tactic, used as part of an attack on Labor's economic record.

"We were disappointed that interest rates were not only a feature of the campaign, but they were a major

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