interest rates going down soon, page-73

Difference from last time.

Cash rates dropped from a high of 7.25 (mar 2008) to 3.00 (Apr 2009). Between 1990 and 2008 the lowest it reached was 4.25 (Dec 2001). Currently at 4.75.

Cash rates don't have a lot of space to move down. Even if they go south, banks will only strategically move there rates for marketshare. Cost of funding is going north.