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Australian prime minister John Howard today said he was 'sorry' about the latest interest rate rise inflicted on his country.
The Reserve Bank of Australia (RBA) yesterday lifted the official interest rate to its highest level in 10 years, 6.5 per cent.
Mr Howard said on a nationwide radio programme this morning he has "taken a hammering" about the Reserve Bank decision.
"Sure, we've had an interest rate rise and I'm sorry about that - I regret it," he said.
"I didn't want an interest rate rise. But one has come about because the Reserve Bank, in its independent judgement, has made the call that the economy is so strong the best thing in the long-term interest of the economy is to adjust interest rates."
- RADIO AUSTRALIA
