HIA Calls For Rate Cuts
The Housing Industry Association (HIA) is calling on the Reserve Bank to cut the official cash rate yet again in a bid to curb the decline in residential construction activity.
“The residential building industry is a key barometer of Australia’s economic health, but regrettably there is unequivocal evidence of a further deterioration in conditions following a very weak 2011," HIA managing director Shane Goodwin said.

"Business closures and job losses are mounting and thousands of small businesses face an even more challenging 2012 than last year.

"The RBA needs to cut rates and the banks need to follow suit in the national interest."