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Your Democracy Tuesday, March 19, 2024 - 17:39 Source

The EU must revise its military strategy and drastically ramp up defense production to help Ukraine in the conflict with Russia, European Council President Charles Michel said on Monday. The call comes amid repeated warnings from Kiev over ammunition shortages.

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MacroBusiness Tuesday, March 19, 2024 - 17:00 Source

Asian share markets are in mixed mood as both the BOJ and RBA meetings put some volatility into local currencies as well as stocks, with dovishness sending them both down against USD. Wall Street is looking to start slightly higher after a solid session overnight but traders now await the next FOMC meeting while the

The post Macro Afternoon appeared first on MacroBusiness.

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MacroBusiness Tuesday, March 19, 2024 - 14:51 Source

The Reserve Bank of Australia (RBA) has released its March Monetary Policy Decision, which, as expected, kept the official cash rate (OCR) on hold at 4.35%. However, the RBA has removed its tightening bias, noting that the “Board will rely upon the data and the evolving assessment of risks”.  Below are key extracts from the

The post RBA oil tanker swings dovish appeared first on MacroBusiness.

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AustralianPolitics.com Tuesday, March 19, 2024 - 14:42 Source

The Reserve Bank has left the cash rate unchanged at 4.35%, in a decision announced today. The cash rate has now been held at 4.35% for the past four months. In a statement released today, the RBA board says that inflation has moderated but is still high. It says the “outlook is highly uncertain”. The statement issued by the board is shown below. Interest Rate Movements Since 1990

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MacroBusiness Tuesday, March 19, 2024 - 14:00 Source

Australia’s governments have conducted several housing affordability inquiries throughout decades, including but not limited to: Menzies Research Centre: Prime Ministerial Taskforce on Home Ownership 2003; The Productivity Commission’s First Home Ownership Report in 2004; A Good House is Hard to Find Report from the Senate Select Committee on Housing Affordability in Australia in 2008; Western

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MacroBusiness Tuesday, March 19, 2024 - 13:30 Source

Last week, it was revealed that NSW’s allocation of the goods and services tax (GST) would be cut by $188 million in 2024-25, whereas Victoria’s GST allocation would be lifted by $3.8 billion: NSW’s GST cut comes despite the state receiving 174,000 net overseas migrants in in 2022-23, 20,000 more than Victoria (154,000) and easily

The post NSW budget sabotaged by immigration appeared first on MacroBusiness.

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MacroBusiness Tuesday, March 19, 2024 - 13:00 Source

Prime Minister Anthony Albanese tweeted below, claiming that “we’ve created more new jobs than any first-term government on record”. “Our plan means more people in work, earning more and keeping more of what they earn”. While the level of job creation might be true, it comes against the backdrop of a record increase in Australia’s

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MacroBusiness Tuesday, March 19, 2024 - 12:30 Source

This is such a bad idea, both politically and economically. I never agree with Australia’s evil energy firms, but they are right about this: Energy Australia, whose Hong Kong-listed owner CLP currently operates two large nuclear power stations in mainland China, said the company was “committed to Australia’s clean energy transformation, reducing emissions as quickly

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MacroBusiness Tuesday, March 19, 2024 - 12:00 Source

What is it with the hard left? Why can’t they admit that running the nation’s largest-ever immigration program has had a detrimental impact on Australian renters? In the past month, we have witnessed The Greens’ housing spokesperson, Max Chandler-Mather twice claim (here and here) that Australia’s extreme immigration program has had minimal impact on Australian

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