Just thinking out loud here
The poor GDP result may prompt a greater fiscal response - i.e more government spending.
Which would 'delay' getting the budget into surplus (I put delay in commas 'cause some say it'll never get back into surplus ... I disagree, but I see the point ... these delays keep on coming). The delay in getting to a surplus has been cited by at least one ratings agency as a risk to Australia's rating.
Oh, and ps. If the government resist a fiscal response will the pressure be back on the RBA to keep cutting?
Oh, and pps. Plenty of people say a ratings cut is not such a bad thing. I'm not making a judgement call here, just considering the options, implications etc.
