Retailers need a little sparkle

Super-low interest rates have yet to provide a sustained lift to the retail sector.

A softer than expected GDP number is assisting Glenn Stevens’ quest to lower the Australian dollar – the local currency slipped well below 91 cents moments after the numbers were released. As Stevens has said time and time again, Australia needs a lower dollar to help other sectors of the economy contribute growth to the economy as the mining boom as we have known it, ends.

Specifically, the idea is a weaker dollar will be beneficial to the manufacturing, retailing and tourism sectors, all of which are currency-sensitive.

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