Isn’t this a good thing? By raising the price of money (with the cash rate) the RBA has reduced the growth in demand. You can’t spend what you haven’t borrowed. However, keep in mind that overall demand for credit is still growing. Housing credit grew by 9.5% in the last year. And demand for all credit grew by 14.1% since last April. That is not exactly a slump, is it?
June 2nd, 2008 | Dan Denning | 1 comment | Continued
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