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Reserve should resist siren calls for rate cuts : Comments
By Henry Thornton, published 3/4/2012Australians have again begun to save because they recognise that saving will increase their families' independence in an uncertain world.
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It is nothing more than a rorting carry trade.We have have $ billions coming in from China selling off our resources/energy cheap and then pay three times the rates that Canada and the US pays for mortgage pays,yet our banks get their money from the likes of the US Federal Reserve for the same price?
If the rates do not drop soon,they will drive our economy so deep into recession that it will not recover like the USA even with 1% rates.Time to get real Henry or find another job.