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Spot on! A rate cut is the right medicine for Australia right now.

C'mon folks. It does not matter who is right or who is wrong. Let's bask in the warmth of lower rates and make the most of it while it lasts.

I created this thread to rejoice the fact that rates are not headed up any time soon. The situation now is totally dissimilar to 87/88 when rates were slashed and increased within a 7 month period. Enjoy the benefits folks. Make the most of it.

Spot on Redom. You've obviously had a decent education. Very occasionally, the RBA has emergency meetings. If I recall correctly, during the GFC rates were targeted for lowering on a day other than the 1st Tuesday of the month. I think this was the first and only time in recent history that...

To me, the prospect of a rate cut is a joyful thing indeed. Even if it does not transpire, its very clear that there will be no further rises for a long, long time. As JMK would say, that should bring out the animal spirits in us.

They were at it in the 90s and early 00s as well. And now it seems they plan to do it again. Here's todays jawboning news. http://www.businessspectator.com.au/news/2014/11/13/currency/aust-dollar-falls-rba-intervention-talk Not for at least 18 months. I'm betting on another small rate...

The RBA has no choice. Interest rates are pretty much the only lever for them to work with. They could try buying/selling the dollar - they did that in the past. Sometimes it works, sometimes it ends in tears.

An interesting link. The asking median price of a Sydney house is, for the first time ever, more than $1m http://www.bloomberg.com/news/2014-11-11/sydney-house-sellers-demand-record-a-1-million-median-sale-price.html These are interesting times indeed.

\ The jawboning noises the RBA regularly makes indicate they may loosen just a bit, due to the weaker numbers. Another half of one percent downside, IMHO, will be the max. That should light a fire under the property market and keep things nice and warm.

The latest news from our jawboning friends at the RBA: Rates may well come down yet again, due to the weak state of the economy. http://www.news.com.au/finance/business/slow-wages-give-rba-room-to-move-rates/story-e6frfkur-1227120916015 I have lived through several Australian recessions...