Escs also to note was the amount savings have increased, from the Melborne institute says consumers see weakness in economic activity and hence increase their precautionary savings. If savings have increased as they say I really think inflation will be brought under control. As people are not spending it will be hard to increase prices stifling inflation. I really thought we would see an interest rate like Matt and a few others in July or august but the general economy might be heading downwards quicker than economists are predicting. The biggest key now will be employment and job creation figures.
