Business
Don’t put up the end of recession balloons just yet – Sydney Morning Herald
The Australian economy may be growing again after its deepest downturn since the 1930s, but the recession will continue to linger for years.
But on Melbourne Cup Day, Debelle along with the rest of the RBA will likely sign off on a string of measures including a cut in the official cash rate to a new record low of 0.1 per cent and the purchase of more than $100 billion in government debt aimed at kicking along the economy.
A thriving economy would not need such a huge injection of support. The RBA’s actions will speak far louder than any statistics showing a return to growth.
Guy Debelle said it appeared the economy had grown through…
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