Oz Blog News Commentary

Articles from MacroBusiness

RBA to cut rates “sooner and faster”

March 1, 2024 - 12:30 -- Admin

Recall that the Reserve Bank of Australia’s (RBA) Statement on Monetary Policy (SoMP) forecast that Australia’s unemployment rate would end the year at 4.3% and peak at just 4.4% in mid-2025: The RBA also forecasts that broader labour underutilisation will remain well below pre-covid levels: The RBA’s forecasts are already looking incredibly shaky, with Australia’s

Major bank rings recession alarm bells

March 1, 2024 - 11:30 -- Admin

Westpac chief economist, Luci Ellis, told The AFR that Australia’s economy may have contracted in the December quarter despite historically high net overseas migration. While Westpac expects that the economy grew by 0.2% in the three months to December, Ellis said that she “couldn’t rule out the initial [GDP growth] print being negative”. A negative

Why Aussie interest rates are going back to zero

March 1, 2024 - 10:00 -- Admin

Honestly, they’re like Daleks, these official economists: A surge in employment combined with scant investment by firms to improve output triggered a sharp drop in worker productivity, limiting prospects for income growth without fanning inflation, the Productivity Commission said in its annual report. Across the economy, productivity fell 3.7% in 2022-23, as output growth failed

Philippines hard man upsets Aussie China grovellers

March 1, 2024 - 09:40 -- Admin

Lol: Australia and the Philippines will deepen maritime co-operation, including security for civilian shipping and surveillance, as President Ferdinand Marcos jnr warns his country is on the front line of Chinese efforts that threaten regional peace. In a forthright address to federal parliament, Mr Marcos repeated his vow the Philippines would not surrender a square

ASIO drama queen won’t divulge name

March 1, 2024 - 09:20 -- Admin

I assume this pantomime serves the purpose of creating an atmosphere of fear among existing pollies: A former politician labelled a traitor by ASIO director-general Mike Burgess is “no longer a security concern”, the spy chief declared as he refused to identify the person and a raft of ex-MPs demanded their names be cleared. As