The RBA should cut straight to zero

Via the AFR today:

Economists at QIC, Laminar Capital and Bank of America Merrill Lynch argue that since November better than expected jobs numbers, retail trade figures, house prices and approvals, and more optimistic trade and sharemarket news will see the Reserve Bank hold fire, despite the temporary hit to the economy from bushfires.

…Former RBA director Jillian Broadbent said interest rate cuts were becoming more difficult to accept and that if the central bank decided to stay put she would keep faith with the board’s decision.

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