I would suggest that a few questions need to be asked -
1) Why is the RBA forcing down interest rates & what is their aim in doing so?
2) Why is the RBA, forcing down the OZ$ exchange rate & what is their aim in doing so?
AND, why are the labor & the Liberal party's happy for this to be happening?
Those questions put, I will provide the following links to interest rates here in OZ, in Japan, in the Eurozone & in the USA.
http://www.tradingeconomics.com/australia/interest-ratehttp://www.tradingeconomics.com/japan/interest-ratehttp://www.tradingeconomics.com/euro-area/interest-ratehttp://www.tradingeconomics.com/united-states/interest-rateLet me also provide a link to the last 5 years of the US$index -
http://www.marketwatch.com/investing/index/dxyI should observe that what the RBA are now doing with lowering interest rates has been a standard Central Bank measure and has often been employed in the past to provoke greater Economic activity, particularly in the Housing area AND it has usually been successful, both in OZ & elsewhere around the world.
I should also note that the OZ$ Vs the US$, has had ups & downs and is not by itself indicative of a measure to fix our Economic ills!
http://www.news.com.au/business/australian-dollarFinally, or all those who think that lower interests rates will fix everything or at least most things, I suggest you look at what have been effectively zero rates in Japan since 1995, in the Eurozone since 2009 & in the USA since 2009, with effectively no Economic gains anywhere, including their housing sectors.
In closing, I will make the observation that, the reasoning behind the RBA's moves will not work any better here, than similar moves elsewhere, END OF STORY!