Tim Wilson walks back suggestion Liberals would rethink RBA full employment mandate

New shadow treasurer accused of ‘extreme ideology’ that would result in higher interest rates and unemployment after saying RBA’s ‘core purpose’ should be to lower inflation

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The new shadow treasurer, Tim Wilson, says he does support the Reserve Bank’s twin objectives after his call for a more targeted focus on taming inflation was decried as a strategy to drive up interest rates and unemployment.

Just two days into the new role, Wilson signalled to the Nine papers that the opposition would review the legislated mandate that requires the bank to maintain equal focus on two goals: keeping inflation within its 2% to 3% target band and achieving full employment.