Zeev will give you his own opinion, but I think a look at what the previous 12 rate cuts have accomplished gives you the answer. Rate cuts do not address the problem with the economy so they are largely ineffective. There may be some marginal benefit, but rate cuts in themselves are mere window dressing that might ease the pain a little for portions of the population. But they also produce extra pain for those that are struggling to live on fixed incomes, mostly the elderly and retired.
For those reasons, I see no net benefit to cutting rates.
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