NRA Cautious After RBA Drops Interest Rates to Historic Low
All All Industry Insights Industry News Media Release Member Only Articles NRA Events NRA Legal NRA Partners NRA Projects NRA Training and Development Policy & Advocacy Policy Updates Technology Tenancy & Leasing Testimonials Thought Leaders Weekly CEO Update WHS Update

NRA Cautious After RBA Drops Interest Rates to Historic Low

May 05, 2015

The National Retail Association (NRA) has cautiously welcomed today’s Reserve Bank decision to cut the official cash rate for the second time this year, which has taken it to an all-time low of two per cent.

NRA CEO Trevor Evans said there was evidence that the February rate cut had prompted an increase in consumer activity, with that month’s retail trade figures showing moderate growth in spending in discretionary categories.

“We always welcome extra cash in the pockets of consumers, and hopefully today’s rate cut will again boost spending in Australian retail stores,” Mr Evans said.

“However, consumer confidence is also critical for strong retail sales, and if today’s rate cut raises concerns about the strength and future direction of the economy then we run the risk that some of the benefits could be undone.”

Mr Evans also said a sizeable amount of any additional spending could go offshore due to the ongoing failure of State and Federal Governments to close the GST loophole for on-line purchases.

“The fact is that today’s rate cut by the RBA may have the effect of stimulating economies other than Australia’s, if consumers decide to do their extra spending on-line in order to avoid Australian taxes and charges.

“If politicians and policy makers are serious about boosting domestic economic activity, then they should move to close the GST loophole which encourages Australians to shop from overseas businesses.

“This would provide an instant boost to local spending, generating higher levels of employment and economic activity.”


The NRA is Australia’s largest and most diverse retail industry organisation, and has been representing the interests of the retail, fast food and broader service sector for almost 100 years.

Media contact:  NRA Media Team (07) 3240 0163

NRA Media

  • National Retail Association strengthens support for members on leasing and tenancy
    June 01, 2021

    We are pleased to have strengthened our partnership with Lpc Cresa, a leading advisor to retail tenants across Australia and New Zealand, to assist our…

    Read More
    September 03, 2018

    To download the nomination form, click here

    Read More
  • Closing Loopholes Bill No. 2 passes Parliament¬†
    February 20, 2024

    Earlier this month, it was confirmed that both Houses of Parliament passed the second tranche of amendments to the Fair Work Act 2009 (Cth) under…

    Read More
  • Jump start your business for 2021 and step ahead of the competition
    November 20, 2020

    2020 has undoubtedly been one of the most challenging years for all of us. It has created unprecedented trends in every industry, and shown retailers…

    Read More
  • NRA members winners in new partnership with Aussie Broadband
    November 16, 2020

    You must be logged in to view this content.

    Read More

What our clients say

Want to chat?
Contact our team today!