Interest rates slashed to record low 1 per cent

"Taken together, these labour market outcomes suggest that the Australian economy can sustain lower rates of unemployment and underemployment."tentative signs that house prices in Sydney and Melbourne had stabilisedBut he gave no signs that this was the last cut by the RBA in this current cycle.

The Australian dollar dipped from 69.79 US cents to 69.70 US cents following the announcement before climbing back to 69.81 US cents by 1435 AEST. KPMG chief economist Brendan Rynne said the move to 1 per cent put pressure on the Morrison government to"The RBA is sending a signal to the market, to politicians and to the community at large, that the Australian economy is not firing on all cylinders, and as one of the guardians of national welfare, the RBA is looking to help out where it can," he said.

Stupid Screwing self supporting retirees again So now there will be a deluge of self supporting retirees who saved for their old age who get next to bugger all in interest and will now have to rely on Centrelink

Looking like recession is just around the corner

Not exactly a vote of confidence in the economy is it? We are weighed down by debt and authorities are desperately trying to kick the can down the road so it’s some else’s problem to deal with

R we in dange?

Buy Bitcoin.

Not long till full recession now.

No where to go now.

Leading us to deflation

How long till Australia is in recession

Buy bitcoin. btc doesn’t care about interest rates.

Penalty rates get cut Interest rate cut Scott Morrison gets pay raises

Gee the interest rates are so low now. Terrible for the many people relying on bank interest for retirement. One asks the question if businesses cannot survive on the low interest rate prevailing before this cut then why will this latest cut make any worthwhile difference.

1% interest on money printed from thin air....

They'll need MY model soon - exactly as predicted...

Budget Emergency!

1% is better than 17.5% if you have a mortgage.

More bubbles burst

So Australia is actually in recession, ScoMo can't hide this any longer, cutting interest rates only delays the inevitable. auspol

NOOOOOOOOOOOOOOO!! Well, I now have even less money to spend to help the economy....... and will be tightening my belt even more and just do the Bare essentials

Only 2 rate cuts since the LNP won the election .🤦

So the economy is officially stuffed and Morrison is lying when he says otherwise

JoshFrydenberg ScottMorrisonMP how good’s the economy? losers how about doing something to get those wages up? Or is record low wages still part of your cunning plan? auspol

swrighteconomy Emergency levels.

Thanks Jobson Grothe

Bye bye reserve bank and hello XRP! cryptocurrency

If any of this was helping ok but its not just dragging any confidence left downhill very fast.

How good is the economy going ScoMo 📈

Heaven help Australia and its citizens nothing at all positive about any of this......1% sadly is not a joke...............

In line with liberal trickledown policy. Scomo took a pay rise today. Paid for by those that lost penalty rates. Good times ahead.

Good times ahead

Bring back plastic bags. It is our only hope

Did Fraudenberg even finish school? Come on LNP this is basic Year 10 Economics - when workers don't have jobs or get moderate wage increases in line with inflation, this is what happens!

Jobs, Growth, and Strong Economic Management by the Liberals is really showing results.

We are entering the mire, the debt trap, which holds the USA, Japan, EU, UK, China captive... can Australia be different? Is the question, do we have a firm plan to come out the other side? Once the economy becomes used to cheap money, any rise is a system shock... Danger

How much of that will the big 4 banks pass on is the big question.

yes because the economy is doing so well ....what a joke ! the RBA must be thinking we can’t fix this mess !

I'm sure the part/wholly funded retirees of Australia are doing Cart Wheels about the new 'Deeming Rate', ScoMo's Centrelink will impose on them! Record low interest rates equal super tough times for elderly struggling self-funded Aussies.

💥Breaking LiberalAus 'government' denies reality. Business as usual. auspol auspol2019 LNP = FRAUD

Masterful management of the economy by ScottMorrisonMP

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