From The Campaign Trail

The latest interest rate rise - to to the highest level in 10 years - further undermines Howard's economic credentials. More important - the rate hike hits almost every working family, makes home ownership more difficult and increases the enormous problems with housing affordability. Now he is trying desperately to distance himself from his interest rate promises. Howard is ready to blame anyone and anything for the latest interest rate climb - now he blames the State governments. Anything to deflect criticism! Anything but own up to his broken promises! The Reserve Bank does not share Howard's excuse. In fact the official statement from the Reserve Bank does not even mention the States. You can check this at: http://www.rba.gov.au/MediaReleases/2007/mr_07_11.html