RBA are now bursting the housing bubble that they helped inflate. Expect them to slash rates moving forward as a desparate response to their realization that the more severe phase of the GFC is unfolding. That could be several months away before they re-act to the situation and as they again follow the market down (eventually to near 0%) over coming years. That would be yet another embarrasing back-flip from our misguided and reactive RBA.
