Interest rates have remained steady, just as the NSW Treasurer Eric Roozendaal embarrassingly revealed when he disclosed details of a private talk with the Reserve Bank Governor, Shadow Treasurer Mike Baird said today.

“Eric Roozendaal let the secret out – he said the Reserve Bank would keep interest rates steady and now they have,” Mr Baird said.

“The NSW Treasurer embarrassed the State last December when he broke financial convention and shared a private conversation with the Reserve Bank Governor on radio.

“Today interest rates have remained steady – confirming the NSW Treasurer did indeed let the cat out of the bag.”

On 9 December Eric Roozendaal told Ross Greenwood on 2GB Radio that he had a chat with Glenn Stevens over lunch and it was unlikely there would be further movements in interest rates.

“It is extraordinary that the Treasurer of the State would be so lacking in experience as to disclose details of a fireside chat with the Reserve Bank Governor,” Mr Baird said.

"If the NSW Treasurer had any idea of the workings of financial markets, he would know that every statement from the Reserve Bank Governor is scrutinised and policy set accordingly.

“While today’s announcement is welcome news for home owners, it is another reminder of Eric Roozendaal’s lack of credibility.

“If the Treasurer is going to make this amateur slip, how can he be trusted to restore the State’s economy?

“While home owners will be breathing a sigh of relief that rates have remained steady, they will not be confident the NSW economy is in good hands.

“A change of government is needed to take NSW forward – that is what the NSW Liberals & Nationals are committed to do,” Mr Baird said.

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