Independent economist Tony Alexander believes that the Reserve Bank of New Zealand definitely will not hike into a recession. As a result, New Zealand’s official cash rate (OCR) will not rise from its current level of 5.50%. The key event needing to be commented on this week was yesterday’s review of the economy, inflation, and
After my demolition job Tuesday night on Sky News, I used Thursday’s Treasury of Common Sense on Radio 2GB to expose the Australian Treasury’s lies that wage growth is driving inflation. Edited Transcript: What the Treasury is trying to argue is that since the June quarter of last year, Australia’s inflation has been driven by
Hoocoonode? China’s home sales slump dragged on in February, even as regulators stepped up efforts to salvage the beleaguered property market. The value of new home sales from the 100 biggest real estate companies slid 60% from a year earlier to 185.9 billion yuan ($25.8 billion), following a 34.2% decline in January, according to preliminary data from
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
The AFR warns that Victoria has little chance of meeting its target set by former Premier Dan Andrews to build 800,000 new homes over the decade. “A total of 51,045 new dwellings approved in Victoria for 2023, according to the ABS, the lowest in 10 years, and down from 62,281 in 2022 and nearly 71,000
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
The Market Ear with the absurdity of money. To the moon Bitcoin RSI at 88. We have not seen RSI this overbought AND bitcoin trading at these absolute levels, ever. Chasing it here looks like a very late trade. Refinitiv Leaving the 200 day moving average behind BTC is trading some 70% above the 200
PropTrack has released its dwelling value results for February, with values nationally rising by 0.45% over the month to be 6.15% higher year-on-year: Combined capital city values rose by 0.48% in February, whereas values rose by 0.36% across the combined regions. In the year to February, the combined capital cities recorded a 7.06% increase in
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
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