ACTU Secretary Sally McManus has also thrown her weight behind a rate cut?


The Reserve Bank should cut rates to maintain low unemployment which is part of its mandate.
If it doesn’t, the slowdown in consumer spending coupled with the threat to jobs could tip the economy over.
That’s a risk working Australians should not have to confront after a long inflation fight.
Workers should not be asked to absorb high interest rates for any longer than is necessary, now that inflation is within the RBA’s target band.
Any stalling now poses a risk to economic growth and Peter Dutton should know that and stop putting his own political electioneering above the needs of workers with mortgages and bills to pay.
Dutton’s claim that working families are concerned the RBA could cut interest rates ‘too early’ is plain wrong. No working family has ever put that to me.
It is very concerning that he is happy to put his own interests before those of the rest of us, when that means less money in the bank accounts of working people.
Being too cautious now won’t help workers and it won’t help the economy. Inflation is coming down
faster than the Bank forecast and unless the strategy is to wait until the economy goes under, taking jobs down in the undertow, the Bank should announce the first rates cut today.
Similar economies started cutting rates six months ago. It’s long past time for the RBA to do the
same.”