The BBC reports on an OECD warning to Australia.
(With thanks to my friend (you know who are) ... and I really need to check my email more carefully .... )
- The OECD has cautioned Australia to keep further interest rate cuts "in reserve"
- And they warn the housing market could be at risk of a "sharp correction"
The Beeb quoting the latest OECD economic report on Australia ... which doesn't say anything we haven't heard before, but still:
- Given Australia was adjusting to its post-mining boom landscape, and considering the downside of rate cuts, the OECD said the country should continue to support investment in non-commodity sectors, among other areas
- It also said it should consider measures to boost competition, cuts to red tape and tax reforms in order to help boost growth
- OECD latest report said Australia's growth would likely dip to 2.25% in 2015, but that it would pick up to nearly 3% in 2016
