How did the rate rise play out in talkback country? A small sample: 2UE Sydney 9:10am: Caller John says the ‘interest rate saga’ is bewildering. He criticises criticism of John Howard, Australian Prime Minister’s criticism of the Labor Govt and their history with interest rates. He asks if Kevin Rudd, Federal Opposition Leader, ALP has said anything about interest rates. 9:25am: Caller Alan was looking at his childrens’ websites and was surprised to see discussion with their friends concerning interest rates and John Howard, Prime Minister. His daughter is 18. Moore says he has heard that many young people are turning away from Howard.
9:37am: Caller Susan has been in the property market for about 20 years and says that people who signed on to mortgages at 4-5% interest should have known that this was a ‘honeymoon period’. Moore and Susan briefly discuss interest rates and the global economy, Moore agrees that people should have expected rates to rise when they signed on to mortgages with low interest rates, and says that it is unlikely that a change in government would fix things. He says the cycle of interest rates operates independently of changes in government.
9:40am:  Caller Gerardo asks Moore who the people are on the board of the Reserve Bank, and suggests that they earn too much money to be able to understand ‘what life is all about’. Moore says that they have the health of the Australian economy in mind and reminds him of instances of massive inflation in historical economies. Gerardo complains about prices going up, including the cost of petrol and transport. He reckons the Reserve Bank board members are in charge of so many companies like ‘Woolworths, Caltex, Shell, whatever’ and increase prices every day and increase interest rates to counter inflation. Moore gets what Gerardo is trying to say, ‘we all pay more all the time’.
10:07am: Caller Howard is a builder and building inspector. He says people should be careful. He says he does work on about 10 mortgage failures a week. Howard says people are spending money they do not have.
3AW Melbourne 9:44am: Caller Darren has a mortgage with his partner for $270,000. Just purchased house in Frankston South. They do not splurge on their credit cards. They are only young so do not expect to be living in Toorak or Malvern ‘or anywhere glamorous yet’.
9:49am: Caller Julie recalls paying 17 per cent in interest rates years ago. She thinks if people got rid of their internet, their children’s mobile telephones and Optus then they would save about $400 a month. Compere remembers borrowing $50,000 for his mortgage and being told he had over committed.
9:51am: Caller Peter purchased a place in Northcote 15 years ago for $70,000. He blames the govt for the interest rate rise saying they are in charge of the financial balance. Compere spoke to Oppn Leader Kevin Rudd on Monday and asked him about his policy on interest rates. Rudd said it was to keep the budget in surplus and allow the Reserve Bank independence. Compere points out Rudd’s policy is the same as the Howard Govt’s. Caller also claims the Australian economy is in trouble.
9:58am: Caller Karen says when she got her house in Werribee in 1991 the interest rates were around 14 per cent. She thinks home owners today are greedy saying they go into these huge homes.
9:59am: Caller Oggy recalls John Howard saying his government would keep interest rates low. Compere says the policies for keeping interest rates low between Labor and the existing government are identical.
ABC 936 Hobart 9:48am: Caller Jim says a quarter of a percent interest rate rise isn’t that much. Caller Jim says that John Howard is the ultimate politician.

SKY News Australia 10:00 News On the Hour Sky News Poll
Who do you blame for the interest rate increase?
Canberra 41%
States 32%
Both 6%
Neither 20%
Monitored by Media Monitors.