Topics:  cash rate, cfmeu, interest rates, rba

CFMEU wanted doubled rate cut

THE Reserve Bank could not appease all groups with its 25 basis point cut to official interest rates on Tuesday, with the CFMEU saying the cut should have been doubled.

The union's national secretary Michael O'Connor said the cut would not alleviate pressure on manufacturing and other trade-exposed industries.

Mr O'Connor said inflation was low enough to justify "far more decisive action".

"While 25 basis points is a good start, today's decision should have been a 50 basis point cut," he said.

"Manufacturing employs one million Australians and yet the RBA seems content to let an entire industry get eaten by the high dollar.

"Monetary policy one of the key levers we have for promoting jobs and economic growth. It's a deep shame that those who can pull it are doing so in such a half-hearted manner."



Local Real Estate

Featured Jobs

Clarence Valley jobs listed daily



Around the Network

Local Partners

LATEST DEALS AND OFFERS

View today's ePaper!

Read the digital edition
Learn More

Cars For Sale

Find cars for sale online now.
Learn More

Property Listings

Search for a property online right now.
Learn More

Local Profile

Stay Connected

Get the news as it happens, in your inbox

You can change the newsletters you are subscribed to when you edit your profile

Edit Profile


Special Offers

Latest deals and offers

Horoscopes

Aries

To get closer to family, you need to make contact with them, even if you’re at a distance. This is a day for communication with loved...

read more

Marketplace

Special Offers & Promotions

Compare & Save