Using factual intelligence, and no rocket scientist theories or googling required-
Be careful what you wish for. If rates tumble the banks will need to increase their reliance on offshore funding to make up for the shortfall in term deposits, which especially in this climate, will catch the eye of the rating agencies so you're essentially back at square one in that aspect. All otherwise known as our banking achilles heel.
Catch 22.
Rates are getting closer and closer to 0%. Doesn't seem to have made much of an impact yet, retail has gone backwards again......asset values still falling. The question is, will the RBA encourage us to gear up and plunge into property while rates are this low? Who knows, maybe they really are stupid enough to lead us into that trap. Then we'll really be perceived as the dumb blonde of the pacific.
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