The Reserve Bank is set to return interest rates to emergency levels after fresh data reveals the economy has stalled.
A SLOWING economy has cut company profits and wages, damaging the government's plans for returning the budget to surplus and sealing the case for a pre-Christmas interest rate cut at today's Reserve Bank board meeting. Company profits are now no higher than they were in 2008, ahead of the global financial crisis, and the September quarter was the first time total wages have dropped since September 2009 in the heart of the crisis.
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