At today’s meeting the Reserve Bank of Australia (RBA) reduced the cash rate by 0.25% to 2.75% pa.
While this is good news for the homeowners, many of our retiree clients are feeling the pinch on the deposit side of the coin (no pun intended).
The “peak investment” in the resource section statement seems to be the most troubling for our economy for the next few years, the miners have been pulling back heavily on wages and discretionary spending – much to the detriment of many small mining linked communities and many thousands of workers.