Rates could fall as low as 0.5% amid warnings of GFC-like slowdown

Official interest rates could be slashed to just 0.5 per cent to deal with an economy growing at its slowest since the depths of the Global Financial Crisis, markets and economists have warned as investors bet the economy needs more financial support.

She said with the RBA keen to drive down the jobless rate there was little option but for a cash rate around 0.5 per cent by the middle of next year. TD Securities analyst Annette Beacher said the national accounts could show the economy expanded at a "feeble" 0.2 per cent through the first 3 months of the year.

swrighteconomy How good is a strong econony?

swrighteconomy Central banks kicked the can down the road after the last gfc. Well, we’re down that road and I see the can again. Idiots.

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'There are cranes in the sky': Treasurer says economy will shrug off property price plungeDespite the drop in house prices, which has led to a $5.2 billion write-down in stamp duties over the next four years, employment is tipped to grow by 2 per cent, the Treasurer says. 5 Billion $$$$$$$$ what a weak excuse for a massive spending spree that looks like its going arse over head.
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