The economic cycle is all about interest rates going up and down.
What you eluded to was that if interest rates starting coming down it was Labors good economic doing.
That is rubbish. My mortgage alone has gone up 1.5% from November last year to June this year. IMHO that is too much too quick as the economy was not over heating by that much. It will simply cripple the economy. If that is how you think Labor should earn economic credibility do be it. I would consider it to be economic vandalism for political gain.
The sheer fact we are talking about an interest rate fall so soon after a rise is sheer confirmation the last rise was a mistake.
Just for info, sorry for those that have already read this but;
Just for interest sake
Howard governement elected in March 1996 official interest rates 7.5%, hit low in Dec 2001 of 4.25% and rates were 6.5% when left office. A decrease during his term of 1%
When Howard came to power interest rates had increased from 4.75% to 7.5% or 2.75% in 18 months.
When Howard left office interest rates had increased from 5.75% to 6.5% or .75% in preceeding 18 month period.
