CFMEU wanted doubled rate cut

THE Reserve Bank could not appease all groups with its 25 basis point cut to official interest rates on Tuesday, with the CFMEU saying the cut should have been doubled.

The union's national secretary Michael O'Connor said the cut would not alleviate pressure on manufacturing and other trade-exposed industries.

Mr O'Connor said inflation was low enough to justify "far more decisive action".

"While 25 basis points is a good start, today's decision should have been a 50 basis point cut," he said.

"Manufacturing employs one million Australians and yet the RBA seems content to let an entire industry get eaten by the high dollar.

"Monetary policy one of the key levers we have for promoting jobs and economic growth. It's a deep shame that those who can pull it are doing so in such a half-hearted manner."

Topics:  cash rate cfmeu interest rates rba

Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

'Pilot saved lives' in 2017 crash: findings

Previous helicopter crash.

ATSB released findings into another Whitsunday Air Services crash

Full moon casts its magic on local fishing

Simon ? with a nice coral trout which fell to a chatter bait and landed with Reel Addiction Sport Fishing.

Full moon casts its magic on local fishing.

Prossie delivers perfect catch

HOOKED: Dave Towner and Scott Hillier at Lake Proserpine.

Lake Proserpine takes to the national stage on television.

Local Partners