Forget the interpretations of recession. We're still talking about a relatively stretched economy. There is no justification for the Reserve Bank to abandon the firm interest- rate outlook.

It's very hard to describe an economy with the lowest unemployment rate in the world as in recession.

Unemployment is sufficiently high, and the economy has just come out of a relatively mild recession, so inflation pressures are relatively soft right now. It will take a while of solid growth before we have upward pressure on inflation, so the Fed can be a little relaxed about it.

It's not an environment to be seriously thinking about cutting interest rates. The economy is going through a soft landing, rather than a hard one. Inflationary pressures probably won't have much chance to dissipate.

The UN sees no justification for any call for a re-run of the election.

World needs a new order of modern economy.