I'd prefer these rate decreases were not required.
Wealth or no wealth , people still tend to like to have a "roof over their heads". We have a chronic housing shortage, high immigration and (relatively) high employment with reasonable incomes.
Hence ... I'll take all the IR cuts I can get thanks Joe. Bring 'em on ! IR futures are forecasting a target cash rate of 2.75% which will do nicely.
LL