how has australia dodged the worst?, page-2

  1. 9,543 Posts.
    lightbulb Created with Sketch. 17
    That's because Oz started off with very high real interest rates and had a lot more room to move down. The UK, US had relatively low interest rates to start with when the GFC struck so they had little manoeuvring space left.
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.