The Reserve Bank of Australia is considering an urgent follow-up cut in official interest rates, declaring current settings are failing to make inroads into the economy while admitting heavily indebted households could be weighing on the jobs market.
RBA governor Philip Lowe has signalled a follow-up interest rate cut, admitting more has to be done to get unemployment down.Markets now believe the RBA is all but guaranteed to cut rates at its July 2 board meeting, taking them to a fresh record low of 1 per cent. That would follow itsThe last time the RBA cut rates in consecutive months was in the first half of 2012.
"It is not unrealistic to expect a further reduction in the cash rate as the [RBA] board seeks to wind back spare capacity in the economy and deliver inflation outcomes in line with the medium-term target."
And a round of QE is unlikely to change that.
Illogical, irresponsible, uneconomic madness- itwill do nothing to improve the economy-in fact quite the opposite. as have the last three.
Not the GFC but the ScoMoFC
Definition of insanity. Hasn’t worked so yeah, let’s keep bumping up inflation without doing a thing to the economy. What’s worse, central banks all over the world have signaled a serious stall in growth and investors are racing to buy stocks with their cheap cash. Thank you RBA.
Cutting interest rates is not working at all!
How gobsmacking is this economy LNP ? Crickets?
So cut the interest rate, more people with no cash to spend, will create jobs🤔 are these guys for real😖😡💔 How about a stimulous package ...oh fogot a surplus more important than the economy🤬
How good is the liberal party.......how smart are the people who voted in the liberal party
Emergency emergency emergency rates. LNP have abdicated all responsibility for managing economy to the RBA. They sabotaged it expecting to lose election, blame Labor and regain govt when Labor cleaned up their mess.... just like after 2007. Now they are clueless what to do next
So do some more of what doesn’t work ....
Rate Cuts won’t help save Australia from a recession. ReserveBankAu There is one thing ! That will help our economy One Thing !