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Time to cut RBA rates, but easy does it

By Henry Thornton - posted Tuesday, 2 September 2008

During July, both M3 and broad money grew by a relatively strong 2.2 per cent. Over the year to July, broad money grew by 15.7 per cent. Money growth is no longer regarded as a key indicator, but this data will ring a gentle warning bell to some in the Reserve.

And goods and services (CPI) inflation is now predicted to peak at 5 per cent before it begins its predicted decline.

Three powerful reasons to hasten slowly to reduce interest rates.

Henry Thornton

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First published in The Australian on September 02, 2008 and on Henry Thornton's blog.

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About the Author

Henry Thornton (1760-1815) was a banker, M.P., Philanthropist, and a leading figure in the influential group of Evangelicals that was known as the Clapham set. His column is provided by the writers at www.henrythornton.com.