Financial Standard Comments - The Fed, the ECB and the RBA The RBA needs to do a 50 bip rate reduction to get the Australian yield curve back to its normal upward sloping shape and prevent further weakness in the domestic economy before it's too late. https://www.financialstandard.com.au/feed/latest?story=12820722 Thu, 12 Apr 2012 14:58:06 +1000 Thu, 12 Apr 2012 14:58:06 +1000 en-AU Copyright 2026 Financial Standard 5 Comment by Alan () Ha Ha fat chance, Glenn Stephens sits in his cosy office in the Sydney CBD on his $million dollar salary so forget about economic reality out on struggle street.
It's a joke, Australia has by far the highest interest rates in the western world and yet large sectors of our economy are not perfroming any better than parts of Europe or America.
As for unemployment being only 5.2%, anyone who believes that is living in a fools paradise! It's probably double that in many parts of the country including here on the Sunshine Coast. The only reason it wouldn't be is that most tradesman and workers with any skills have left to work elsewhere.
How do I know this? Because I'm at the cutting edge here and whilst I have an economics degree you certainly don't need that to know what's really happening.
But don't ask our famous Treasurer, he'll tell you it's all going gangbusters in between his bank and billionairre bashing.

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]]> Alan () Thu, 12 Apr 2012 14:58:06 +1000