rba drops rate by 1 per cent, page-31

"This cut stinks of the RBA smashing the panic button."

they were saying

.25% - cautious but no bank will pass it on so zero net effect
.50% - Most likely scenario. banks to keep .25 and pass on .25
.75% - Panic but highly improbable and if so definitely handbreak and underestimating the troubles of the Aus economy
1% was not even discussed

So with that Surandy we have punched the panic button thru the wall.. it was either 8 months of .25 at a time or 1% today and 4x.25% over Dec-March


I think the argument you also made re inflation is correct.. IMO the message to save, pay down debt, live within means will be absorbed by 70-80% of consumers... the rest can suffer the consequences of their ignorance