ANALYSIS: Credit and credibility: Who loses most in a pre-election rate cut
When John Howard was splashing tax cuts around during the 2007 election, the Reserve Bank hiked rates hike during the campaign, hoovering up a decent portion of the largesse in an effort to stop the economy overheating.
It was dubbed the 'per capita recession', a term derided by some economists, but acutely felt by many in the real world.
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