So, from 500 bil pipeline to now 270 bil "committed"...

So, from 500 bil pipeline to now 270 bil "committed" capital.
Looks like the too big to stop reality has started to gain momentum.

Apparently, the crystal ball of glen today telling the market commodity boom will "ease off" the peak in 2013/14.

"The peak of the resource investment boom as a share of gross domestic product, the highest such peak in at least a century, will occur within the next year or two"

He would have thought he got plenty if fire power ( rate cut) behind him if economy really fall off the cliff earlier than his crystal ball predicted. But his peers (4 pillars) may not agree. Text book stuff saying rate cut to lower AUD n thus improve export to counter mining bust. Look at what happened to AUD the last 12 months after the sequential cut. Market loves our AAA energizers.

In response to the possibilities of QE, the is what glen response

"I hope never being in a position of having to use quantitative measures," he told House of Representatives economic committee.

"I don't think we'd be undertaking quantitative measures in an attempt to ease monetary policy until we'd used the interest rate mechanism because I think that it is still the most effective one"

"You wouldn't do that until such time as the process of easing interest rates got to a lower bound."

And with big 4, no worries

"Our reliance on foreign funding for banks is lower than four years ago because of how banks have changed their funding structure," he said.

"We're well equipped to handle things that could go wrong.

"Bad things can happen, but we should have quiet confidence that we should manage."


Look like a prosperous 2013/14!