As usual others have got in before me
Firstly Ricardo Ambivalence has his say and his article has links to Lowe's speech.
and also The Kouk has his.
I am now of the mind the RBA should not cut below 1% for any amount of reasons:
- effect on retail rates
- little in the locker if things deteriorate
- Cutting raters below 1% won't have a great effect anyway
- Having two apartment towers with building problems must have an effect on the housing market
The way to go is fiscal policy infrastructure spending in particular.
Infrastructure Australia. has a list of priorities which both the Government and Opposition ignore when trotting out what they with to spend on. The priorities show which projects have the biggest bang for the buck and so will grease the wheels of the economy better.
Do it and do it now
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