With the Reserve Bank dropping its official interest rate by 0.25 percentage points to a new record low of 1.25 per cent yesterday, Michael talks to Terry McCrann, Business Commentator with The Australian to discuss the state of the Australian economy.

The RBA had been under mounting pressure to stimulate a clearly faltering domestic economy, with retail sales figures showing consumers had cut back their spending. 

With the Reserve Bank dropping its official interest rate by 0.25 percentage points to a new record low of 1.25 per cent yesterday, Michael talks to Terry McCrann, Business Commentator with The Australian to discuss the state of the Australian economy.
The RBA had been under mounting pressure to stimulate a clearly faltering domestic economy, with retail sales figures showing consumers had cut back their spending.&nbsp;

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