same things said about demise of property, page-10

Moondog,

I continue to hold a different view on the direction of interest rates.
I always hoped for an orderly decline of our dollar but what we are witnessing now appears to be an exit of overseas investors who for a long time saw Australia a a safe haven. Overseas investors hold the clue to the direction of rates IMO. We need them badly to fund our debt.
The decline of our currency started with a trickle but it appears to gain speed and worst case could be a dramatic decline where everyone is running for the exit.

I still hold the hope that we will not see a collapse of the A$ as that would leave a trail of destruction.

For above reasons, I hardly see any scope for lower rates.

R.