The Reserve Bank has given the Australian economy the benefit of the doubt, leaving interest rates on hold despite mounting evidence of a serious slowdown.The decision to hold was taken ahead of what is expected to be weak economic growth to be released by the Australian Bureau of Statistics tomorrow.
The central bank also adopted a neutral stance on rates, suggesting the next move was as likely to be down as up — a departure from its previously stated desire to raise rates. Weak partial data feeding into fourth quarter GDP numbers has led most market economists to slash their forecasts for growth to well below even the RBA's downgraded expectations.
"The central scenario is still for the Australian economy to grow by around 3 per cent this year," Dr Lowe said.
Any news about the Labor's Cabramatta's local branch president Andrew Hansen ABC ?.
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Migrant cut could force RBA to reduce rates, warns housing industryThe housing industry has warned a cut in migrant numbers could force the Reserve Bank into slicing interest rates to prop up a struggling property market | swrighteconomy swrighteconomy Migration is being cut drastically right now. I predict this June will be the lowest intake of permanent residents in the last 10 years. swrighteconomy Australia CANNOT keep 'importing' more consumers, who will become MORE old age pensioners, to create MORE demand, in a never ending cycle of MORE! That is stupidity compounded! Services HAVE NOT kept pace! Water, food, medical... Kicking the can down the road, politician style. swrighteconomy So we we are captured by vested interest and ridiculous policy coming of the mining boom, borrowed money to stimulate an economy on household debt.
Source: smh - 🏆 6. / 80 Read more »
Migrant cut could force RBA to reduce rates, warns housing industryThe housing industry has warned a cut in migrant numbers could force the Reserve Bank into slicing interest rates to prop up a struggling property market | swrighteconomy swrighteconomy Migration is being cut drastically right now. I predict this June will be the lowest intake of permanent residents in the last 10 years. swrighteconomy Australia CANNOT keep 'importing' more consumers, who will become MORE old age pensioners, to create MORE demand, in a never ending cycle of MORE! That is stupidity compounded! Services HAVE NOT kept pace! Water, food, medical... Kicking the can down the road, politician style. swrighteconomy So we we are captured by vested interest and ridiculous policy coming of the mining boom, borrowed money to stimulate an economy on household debt.
Source: smh - 🏆 6. / 80 Read more »