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Radio host stumps Bishop on rates
Posted 20 minutes ago
Updated 6 minutes ago
Shadow Treasurer Julie Bishop could not recall the Reserve Bank's official cash rate during a radio interview. (ABC)
The new Opposition treasury spokeswoman, Julie Bishop, has been unable to name the official cash interest rate in Australia on her first day in the job.
The Reserve Bank dropped the rate from 7.25 per cent to 7 per cent earlier this month.
On ABC Radio in Perth, Ms Bishop could not tell presenter Russell Woolf the current rate when asked the price of a litre of milk, a litre of petrol and the interest rate in quick succession.
"The cash interest rate at present is... seven... I'm just trying to think," she said.
"Was it 7.25 [per cent]? I'll have to go and check that one."
When Ms Bishop was told the correct answer by Woolf, she replied: "That's right, that's right you're quite right."
http://www.abc.net.au/news/stories/2008/09/22/2371279.htm