In September, the average cost of short-term loans to business was 4 per cent, almost 3 points lower than a year before; variable-rate mortgages for households was cut by more than half, to 2.3 per cent. The average cost of fixed-rate mortgages fell by one point, to 4.9 per cent.
In reality, however, while one cannot doubt that such measures were implemented with the best of intentions, it is doubtful that the desired outcomes are being achieved, and in some instances these measures turned out to be self-defeating.