By guest contributor Ken Atchison, CEO, Atchison Consultants
A further reduction in interest rates by the RBA of 0.25% down to 0.75% was announced on October 1. As shown in Chart 1, interest rates have been progressively reduced over the past decade. Chart 1:In contrast, APRA policy is restraining growth of business activity in Australia through credit restraint. Data released as at the end of August 2019 shows continuing very slow growth in private credit in Australia,...