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On Australia’s Rate Cut

Australia just cut its policy rate to 2.75%, the lowest on record. That puts Australia into the same camp as all of the other major economic areas, where policy rates are all at record low levels. If you believe that Australia has used…

Problems in global housing markets

In the past year, I have increasingly turned away from the US housing market to stress the difficulties now besetting other global housing markets because there have been large house price appreciations (and some declines) elsewhere in…

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