Rates may approach zero, NAB says, as consumer confidence dips

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Rates may approach zero, NAB says, as consumer confidence dips | swrighteconomy

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Mr Oster said the RBA was now likely to take the cash rate down to 0.5 per cent early next year with the RBA then likely to outline its plans for so-called "quantitative easing" to help boost the economy.

As more than half of taxpayers tsay they're unlikely to spend all their tax refund, the NAB said there were growing risks to the economy.investment, cash hand-outs and/or the pull-forward of tax cuts," he said. It has also talked up the impact of its tax cuts, saying these will provide an important boost to households.But Westpac's consumer survey, released on Wednesday, showed a drop in shopper confidence despite the extra cash hitting bank accounts over the past two months. Sentiment dropped by 1.7 per cent with pessimists now out-numbering optimists.

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swrighteconomy zero rates but borrow 3 times as much. zero sum game at best

swrighteconomy How good is that ?

swrighteconomy That’s for the banks not you , will be paying same rate and eventually will creep higher

swrighteconomy so much for people putting their savings in the bank - it is forcing everyone to invest elsewhere

swrighteconomy I’ll spend more if the RBA raises rates. Panic cuts send the wrong message to the entire market.

swrighteconomy Great job JoshFrydenberg Just do us a favour mate and resign Your not up to the job

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