History reminds us that the Australian economy-and indeed the...

History reminds us that the Australian economy-and indeed the Australian property market-tend to surprise on the upside. So many hoping for a crash may well continue to be very disappointed.


"The Australian economy is successfully rebalancing after a decade-long boom in mining investment and low inflation means there is still scope for further rate cuts if needed, a top central bank official said on Tuesday.
In an upbeat speech on the economic outlook, Reserve Bank of Australia (RBA) Deputy Governor Philip Lowe linked the prospects for an easing to the labour market, implying a move might not be needed should the unemployment rate remain steady."

"Lowe pointed to a range of promising indicators including business surveys and last week's gross domestic product figures showing the economy grew a surprisingly brisk 3 percent over 2015.
"While none of these indicators suggests that we are on the cusp of a return to the type of growth rates we saw before 2008, they do suggest that the economy is successfully rebalancing following the mining investment boom," said Lowe."