The state's doing it tough. And the fundamentals of weak house prices and record household debt mean there's not much light at the end of the tunnel.
More Quotes from Brian Redican:
An improvement in the trade balance will set the economy up for an improved performance in the fourth quarter. Mediocre consumer spending, the drag from net exports and declining housing construction have taken their toll on growth in the third quarter.Brian Redican
The market has been trying to push a rate cut, but the Governor has remained steadfast, saying there is no scope for lower rates. The Reserve Bank does have a tightening bias and is concerned by wages pressure.
Brian Redican
The Reserve Bank is very firmly on hold. The housing market is treading water. Investors no longer have the opportunity to get big capital gains, so they have left the market.
Brian Redican
This is a very positive number and it augurs well for economic growth. It's a bright spot.
Brian Redican
We're optimistic that exports will improve, but probably not until the second quarter of 2006.
Brian Redican
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