OUTSPOKEN Queensland MP Bob Katter says if his new political party were ever to win power federally it would force the Reserve Bank to lower interest rates - even if that meant heads had to roll.

Katter's Australian Party (KAP), which was registered in late September, wants to devalue the Australian dollar by reducing interest rates.

Inflation no problem ... Mr Katter. Credit:Domino Postiglione

The party's policy platform states that the official cash rate should be brought into line with the rest of the world at between 1 and 2 per cent.

The Reserve Bank's cash rate is 4.25 per cent.