The Reserve Bank of Australia (RBA) kept the official cash rate on hold on Tuesday primarily because the household sector, which is the main driver of the Australian economy, is under deep pressure. “Household consumption growth has been particularly weak as high inflation and the earlier rises in interest rates have affected real disposable income”,
This is going to be the maa culpa of a lift lifetime. This is from PVO today about the Victorian Budget: Same Treasurer, different Premier – even more debt. That’s the story of today’s Victorian budget, handed down by long term state treasurer Tim Pallas. It is the first state budget delivered since Dan Andrews
With the FOMC meeting and latest US jobs report all absorbed, risk markets are wanting to extend their recent rebound with most markets in Asia drifting higher in today’s session. The RBA’s hold helped buoy local spirits while the Australian dollar seemingly had baked in any gains, falling back below the 66 cent level. Oil
As expected, the Reserve Bank of Australia (RBA) held the official cash rate (OCR) at 4.35% at today’s monetary policy meeting. However, the commentary was more hawkish and suggested the RBA is carefully weighing the latest stronger-than-expected CPI inflation print with softening consumer demand. As a result, rates are likely to remain on hold for
It’s about as clear as mud today. “At the front end of the budget, there will be a primary focus on inflation. Towards the latter years of the budget, there will be more of a focus on growth,” he told reporters in Canberra. “It will be an inflation fighting and future making budget. There will
SQM Research has released listings data for April, which shows that the number of residential property listings nationally fell by 6.4% over the month, falling from 256,000 recorded in March 2024 to 239,660 dwellings. However, over the year, listings rose by 5.6% nationally: The annual rise in listings was driven by Sydney (+12.8%) and Melbourne
TS Lombard with a quick wrap. Macro drivers ▪US inflation is sticky, but the Fed insists that the next move is most likely a cut, not a hike. ▪Nevertheless, the FOMC remains a deer in the inflation headlights; other central banks are unlikely to wait for it to decide one way or another. ▪US-EA divergence
Thank god for Ian Verrender, the last voice of sanity at your destroyed ABC. If only there was a diagnosed condition called One Size Fits All (OSFA) syndrome. The chances are that, if that were the case, a significant portion of our economic gurus might just find themselves exiting their shrink and heading down to
You want to make friends with your enemies; don’t complain when they use your resources to attack you: Anthony Albanese has confirmed the government have made “appropriate diplomatic representations” following a Chinese fighter jet dropping flares dangerously close to an Australian Navy helicopter over the weekend. “We regard this as unprofessional and … unacceptable. And we’ve
Economist Saul Eslake contends that Victoria has become overly reliant on population growth and housing as a source of economic growth, resulting in it becoming by many metrics a poor state. “Victoria has disproportionately relied on population growth and housing as a source of economic growth”, Mr Eslake told The AFR on Monday. “As a result,