Pundits are tipping that Melbourne Cup day will see another cut in the official cash rate to 3.00 per cent, or even 2.75 per cent, by the Reserve Bank of Australia (RBA), a sure sign of growing desperation in the face of the stalling resources boom.
Australia is not alone in experiencing an economic slowdown as resource prices ease. Canada’s treasurer is begging business to invest and take up the slack created by the tail end of the resources boom. This is especially painful for Canad…
