Chamber of Commerce & Industry Queensland presses RBA for rate cut
The results of the latest Pulse Survey of Business Conditions reveal that interest rates are now regarded by business as the most significant constraint on business growth in Queensland, ahead even of labour shortages.
The Reserve Bank of Australian regularly monitors the quarterly St.George - Chamber of Commerce & Industry Queensland Pulse Survey of Business Conditions and will be meeting with Chamber of Commerce & Industry Queensland in coming weeks to discuss the June quarter findings in detail.
Chamber of Commerce & Industry Queensland is in regular communication with the Queensland Office of the RBA and Mr Glenn Stevens, Governor of the Reserve Bank, to ensure the RBA understands the pressure facing business across the state.
Through these high-level meetings and the data contained in the Pulse Survey of Business conditions, Chamber of Commerce & Industry Queensland is able to ensure the RBA is acutely aware of the impact interest rates are having on business, despite the state's resources boom.
As a result of our ongoing representations, we are confident the RBA will consider the effect high interest rates have had on the previously resilient Queensland economy and announce a cut in the official rate on 2 September.
For further information please contact Nick Behrens, State Manager - Policy, at .
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