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RBA May 2012 Interest Rate Decision?; Cuts likely in May and June?
Topic Started: 5 Apr 2012, 12:02 PM (8,121 Views)
peter fraser
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nipa hut
1 May 2012, 08:45 PM
peter fraser
1 May 2012, 04:36 PM
Correct me if I'm wrong, but I believe that the RBA members only have 3 seats on the RBA board, so the non-academics, appointed by government, can roll the RBA anytime they feel justified in doing so.

Those non-academics just happen to have massive retail and other business interests affected by this decision.

The RBA is no longer truly impartial, the Gillard Government and business now have the power.


The interesting thing is that the "new" RBA Board's timing cuts off Wayne Swan at the knees.

Coming in *advance* of the budget, Swan cannot take credit for the rate cuts themselves. (Though I'm sure he'll try, and I predict he and Julia will come off very badly in the attempt.) Meanwhile, he'll be subject to savage attacks from both ends of the political spectrum:

- The Greens can argue that the balanced-budget goal (with its associated drastic fiscal contraction for 2012/13) is particularly wrong-headed at a time that the (soggy) RBA finds the overall Australian economy soggy enough for panicky monetary relaxation.

- The Coalition can argue that the budget surplus is necessary, but in Labor's hands has been made economically debilitating by preserving unnecessary and inefficient sacred cows, e.g. the NBN.
Both Gillard and Swan have put pressure on the RBA for a rate cut, and I'm quite sure that they will both claim bragging rights.

Of course it won't make any difference at the next election. Nothing can revive a long dead pony.

Any expressed market opinion is my own and is not to be taken as financial advice
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TED BULLPIT
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peter fraser
1 May 2012, 09:20 PM
Nothing can revive a long dead pony.
You are correct Mr Fraser, nothing can revive a long dead pony. ;)

Hows your pony lookin :bl:
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Shooter McGavin
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Well, Real Estate is a hobby of mine
peter fraser
1 May 2012, 08:14 PM
Did you have Paul Howes in mind by any chance?
partially was on what paul howes said, and also how the shop stewards are walking over us on site down 'ere
Damn you people. Go back to your shanties
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peter fraser
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Shooter McGavin
2 May 2012, 09:35 AM
peter fraser
1 May 2012, 08:14 PM
Did you have Paul Howes in mind by any chance?
partially was on what paul howes said, and also how the shop stewards are walking over us on site down 'ere
If "down ere" means Victoria or Tasmania than that seems odd considering the growing unemployment problem.

A smart shop steward should be going to management and saying that "I'm concerned about our current economic state, so what can we do to help ensure we all retain our jobs"

The old fifties attitude of them and us should have died out long ago.

Any expressed market opinion is my own and is not to be taken as financial advice
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Shooter McGavin
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Well, Real Estate is a hobby of mine
peter fraser
2 May 2012, 09:51 AM
If "down ere" means Victoria or Tasmania than that seems odd considering the growing unemployment problem.

A smart shop steward should be going to management and saying that "I'm concerned about our current economic state, so what can we do to help ensure we all retain our jobs"

The old fifties attitude of them and us should have died out long ago.
Down ere' is victoria way in one of the biggest (labour) disasters apart from myki. At the moment the best way to keep a job here (as we are finishing up) is to have an 'accident' jumping out of a car or lifting something incorrectly
Damn you people. Go back to your shanties
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