For the last 6 weeks the money markets have factored a drop in rates. On Friday wespac came out and is the first bank to say the next rate move will be down. If the Government keeps going the way its heading we will be in recession. A rate cut could spur on people spending. currently they are saving and paying of loans which does the opposite effect to what is needed. sales dry up and we go on a downward spiral. we need more money circulating not less...
