The Reserve Bank will cut rates again and again, until we lift spending and push up prices
- Written by Peter Martin, Visiting Fellow, Crawford School of Public Policy, Australian National University
The Reserve Bank cut interest rates on Tuesday because we aren’t spending or pushing up prices at anything like the rate it would like. And things are even worse than it might have realised.
As the board met in Martin Place in Sydney, in Canberra at 11.30 am the Bureau of Statistics released details of retail spending in April, one month...
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