Jul 3, 2014

Economy coming off the boil as Stevens sets things straight for the markets

The economy is losing steam in the second quarter of the year, and the budget didn't help. But RBA governor Glenn Stevens says interest rates will be steady for a long time to come, Glenn Dyer and Bernard Keane write.

The economy’s flat second quarter performance has continued, according to data released by the Australian Bureau of Statistics this morning, and Treasurer Joe Hockey in particular seems to have scored a direct hit on retail sales with his apocalyptic budget rhetoric. But the real economic action was down in Tasmania.


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