The Reserve Bank has cut rates to low levels to encourage borrowing.
This is a good thing.
The strategy has worked.
Housing and construction are the backbone of our economy – because they generate so much employment and activity.
House price has increased – and that in itself is not a bad thing.
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The scene is now set for the rest of 2019.
I give credit to the Reserve Bank and the Government for pre-empting.
The Reserve Bank cut rates by 0.5% (0.4% of which was passed through) and the Government passed tax cuts through to everyone.
What was the background? The two big ticket items – Brexit and the US China Trade War.
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