Reserve Bank minutes show rate cut deeply debated

Reserve Bank members noted the combined impact of recent tax cuts and low interest rates might boost growth "by more than their individual effects would imply" especially if the mining and housing sectors began to grow.

There have also been fears that recent rate cuts are having less effect than previous cuts, particularly because low interest rates hit the income of savers and affect general consumer confidence which fell to a four-year low in the wake of the October decision.

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Reserve Bank minutes show rate cut deeply debatedMinutes of the meeting at which the RBA cash rate was cut to a fresh record-low reveal the contentious move was partly driven by concerns the combination of past reductions and the Morrison government's income tax cuts had fallen short of expectations.
Source: theage - 🏆 8. / 77 Read more »

Reserve Bank minutes show rate cut deeply debatedMinutes of the meeting at which the RBA cash rate was cut to a fresh record-low reveal the contentious move was partly driven by concerns the combination of past reductions and the Morrison government's income tax cuts had fallen short of expectations.
Source: theage - 🏆 8. / 77 Read more »