"Many are preferring to sit on their hands, rather than commit to capital spending," he said. "If this continues for too much longer, the effects on economic growth are likely to be significant."
If passed on in full, the quarter percentage point cut would save $58 a month in repayments on a $400,000, 30-year mortgage, but Shadow treasurer Jim Chalmers said the cash rate was "extraordinary" and accused the government of leaving all "the heavy lifting to the Reserve Bank". "A treasurer that looks at a cash rate of 1 per cent and pretends everything is hunky dory is a rubbish treasurer."
swrighteconomy ErykBagshaw I loved this bloke in Chernobyl
swrighteconomy ErykBagshaw Government calls on RBA to do more to help the economy 🙄
swrighteconomy ErykBagshaw Cutting penalty rates won’t help, idiots.
swrighteconomy ErykBagshaw Before the 2008 oil price shock and again in 2010, RBAInfo lifted rates although oil prices were going up which usually depresses the economy. I had warned Howard in 2005 about peak oil. He did not listen. In 2011 high oil prices were needed to finance unconventional shale oil
swrighteconomy ErykBagshaw This guy needs to get on the phone to Albo, it's labor holding things up ! 🙄
swrighteconomy ErykBagshaw Sad but true... Great article, thanks.
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