The RBA wants to get back to the default interest rate safety level. This gives them room to move should the economy take another turn for the worse. In the states, the rates were already so low before the GEC that they had no room to move. If Australians got so much in debt at record low levels, (both home owners and business owners) then they only have themselves to blame for not considering the impact of how things might turn out if people stopped spending money and interest rates went up.
