Alan Stott

REFERER OF THE YEAR FOR 2008.....MICHAEL PATERSON! THANK YOU MICHAEL!

I would like to introduce and acknowledge MICHAEL PATERSON.

Michael is both a freind and a client, and is my most prolific business refererr.

As well as being a Solicitor, Michael Paterson is also a software developer and is actively involved in both the legal and computer industries. He has dual qualification in both disciplines: B.Sc. (Computer Science) LL.B. (Hons.) A.N.U. (1982-1986).

With his knowledge and practical experience in the computer industry, Michael Paterson has developed a niche practice area in computer, technology and intellectual property law. In addition, he regularly presents seminars on computer-related legal issues to various industry and professional bodies and gives guest lectures at Curtin University and Edith Cowan University.

Michael has been referring his clients and his staff members to me ever since I arranged his own personal and investment finance some time ago.

Thanks to Michael, I have quite a number of new clients, and I too have been able to refer my clients to him on a number of occasions when I have known about issues facing my clients and freinds.

Michael has advised and sorted out my clients on issues such as property leases, wills, enduring power of attourneys, property disputes and in establishing the owning entities of businesses and establishing family and unit trusts.

Thank you for the business you refer to me Michael. I appreciate your business and the confidence shown to me in referring your clients, freinds and staff member to me!

......and if you need a good solicitor or good legal advice, please give me a call and I will gladly put you in touch with Michael. 

RBA GOVENOR ANNOUNCES A 1% REDUCTION IN CASH RATE - LOWEST RATE SINCE 5TH DECEMBER, 2001!!!!

STATEMENT BY GLENN STEVENS, GOVERNOR
MONETARY POLICY

At its meeting today, the Board decided to reduce the cash rate by a further 100 basis points, to 4.25 per cent, effective 3 December 2008.

Recent actions by governments and central banks to stabilise their respective financial systems have begun to take effect.  Nonetheless, financial market sentiment remains fragile, as evidence accumulates of weak economic conditions in the major countries and a significant slowing in many emerging countries.  Commodity prices have fallen further.  This, combined with the likelihood of below-trend growth in the global economy, suggests that global inflation will moderate significantly in 2009.

The Australian economy has been more resilient than other advanced economies, but recent data nonetheless indicate that a significant moderation in demand and activity has been occurring. With confidence affected by the financial turbulence and a decline in the terms of trade now under way, more cautious behaviour by both households and businesses is likely to see private demand remain subdued in the near term. With that outlook, and with capacity pressures now easing, it is likely that inflation in Australia will soon start to fall. Global disinflationary forces will assist in this regard, though the depreciation of the exchange rate means that the decline of inflation to the target could take longer than would otherwise have been the case.

Weighing up the international and domestic developments of recent months, the Board judged that a further significant reduction in the cash rate was warranted now, to take monetary policy to an expansionary setting.  As a result of today’s decision, the cash rate will be at its previous cyclical low point.  Given trends in money market yields, most lending rates should fall significantly and will also reach below-average levels.

There has now been a major easing in monetary policy over the past few months.  Together with the spending measures announced by the Government, and a large fall in the Australian dollar exchange rate, significant policy stimulus will be supporting demand over the year ahead.  The Board will continue to monitor developments and make adjustments as needed to promote sustainable growth consistent with achieving the 2–3 per cent inflation target over time.

TO FIND OUT WHAT THIS MEANS TO YOU, GIVE ME A CALL ON 08 9240 1990