It would be equivalent to saying that the most expansionary setting reached during the downward phase of the interest rate cycle should be maintained until such time as a move to a clearly restrictive setting is required, and only then should a move be made. This would virtually guarantee that such a move would be a large one. What about the GST?
If this endeavour fails or if parliaments don’t subsequently ratify the deal, the transition period would be off the table, too.