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Bulls, Bears & Brokers: Alto Capital’s Tony Locantro on this week’s interest rate cut

Alto Capital investment manager and stock market commentator Tony Locantro speaks to Proactive Investors about the official rate cut this week, which marks a new record low of 1%, and what this means for property and stock markets. 
 
Locantro says the Australian economy is well past the point of no return with recession imminent. 
 
“1.5% was regarded as emergency cash rate, now we are at 1%,” he says. 
 
“I think this is a huge admission that the Australian consumer is tapped out, property speculators are tapped out … it’s like a sandbag to a tsunami, there is nothing the Australian consumer can do.”
 
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