No, not at all. In fact, typically, US recessions don't cause world recessions and are offsetting movements. For example, if capital is not attracted to the US, it might be attracted to other countries, including us. Because of what the US Fed did last night, the Australian Reserve Bank can cut rates any time, and by as much as it likes. That is, our stock price, our equity prices last year actually rose.
Consumer spending is a bit slower, but it's still reasonably firm.
Business investment is firm. As we saw again in some numbers today, Australian exports are going terrifically. So I think we'll follow, but slowly. I don't think we'll see a rate cut maybe till March, and maybe then only half of what the Fed did last night. Transcripts on this website are created by an independent transcription service.