Inside the Greens' interest rate demands

7am

The Reserve Bank should lower interest rates, and if they don’t, the government should make them, according to the Greens.

Their spokesperson for economic justice Nick McKim has said he won’t support the government's reforms to the RBA unless the treasurer intervenes in the bank’s decision-making processes and tells them to lower interest rates.

It’s a big demand: something that has never happened before and is unlikely to now, with Labor saying the Greens are “out of control”.

And there is also unrest within the Greens about the position, with some concerned the demands go too far at a time when the party is looking to make itself a viable alternative to the two major parties at the next election.

Today, national correspondent for The Saturday Paper Mike Seccombe on just how independent the Reserve Bank is and what the Greens are playing at.

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Guest: National correspondent for The Saturday Paper Mike Seccombe