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MacroBusiness Wednesday, November 12, 2025 - 14:00 Source

The Reserve Bank of New Zealand has slashed the official cash rate by 300 bps to 2.5%. Given New Zealand’s weak economy, which last week saw unemployment and underemployment increase to their highest rate since the pandemic peak, expectations are that the Reserve Bank will deliver additional rate relief heading into 2026. As illustrated below

The post Reserve Bank won’t rescue housing market appeared first on MacroBusiness.

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MacroBusiness Wednesday, November 12, 2025 - 13:30 Source

JPM on the AI data centre rollout. It is large. The global data center and AI build-out will be an extraordinary and sustained capital markets event. Building out global data center and AI infrastructure and related power supplies could cost over $5 trillion in our view, with at least one consultant calling for $7 trillion

The post AI to the moon appeared first on MacroBusiness.

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MacroBusiness Wednesday, November 12, 2025 - 13:00 Source

Sales in lower-tier Chinese cities are not going well. At the aggregate level, a hopeful year has turned bust. Inventory isn’t going anywhere. Yet completions remain stable. This has to fall, or the market will never adjust. Only forever to go.

The post Chinese property plunges into the abyss appeared first on MacroBusiness.

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MacroBusiness Wednesday, November 12, 2025 - 12:30 Source

The ABS updated its biannual series on life expectancy yesterday, and, according to the numbers, you will now, on average, die a few months earlier than before Albo’s election win. We should probably acknowledge some role for COVID, given that the dip has been a global phenomenon. We can ship that home to Albo’s mates

The post An earlier, poorer death for Australians appeared first on MacroBusiness.

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Renew Economy Wednesday, November 12, 2025 - 12:08 Source
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MacroBusiness Wednesday, November 12, 2025 - 12:00 Source

In the classic version of Britain’s Top Gear, hosted by Jeremy Clarkson, James May, and Richard Hammond, there was a sometimes-used motto for their little crew: “Ambitious but rubbish.” From multiple rounds of sinking home made amphibious cars to attempting to launch a Reliant Robin into space, the trio lived up to their motto, often

The post Top Gear, Clare O’Neil and housing appeared first on MacroBusiness.

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MacroBusiness Wednesday, November 12, 2025 - 11:30 Source

The State of Victoria, already drowning in debt and facing further credit rating downgrades, last month passed legislation to establish a First Peoples’ Assembly, providing the indigenous community with significant powers that can greatly increase the cost and difficulty of managing the state. The First Peoples’ Assembly powers are buried in 200-plus pages of complex

The post Victorians to pay treaty tax? appeared first on MacroBusiness.

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Your Democracy Wednesday, November 12, 2025 - 11:16 Source

The European Commission plans to establish a new intelligence division directly under President Ursula von der Leyen, even as the move faces resistance from the EU’s existing spy apparatus, the Financial Times reported on Tuesday.

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MacroBusiness Wednesday, November 12, 2025 - 11:00 Source

As I keep saying, the household spending recovery is largely a mirage. The CommBank Household Spending Insights (HSI) Index increased by 0.6% in October, mirroring September’s increase and representing the thirteenth consecutive month of growth for Australian households. 11 out of 12 categories saw an increase in spending, with Transport (+1.2%), Motor Vehicle (1.0%), and

The post Consumer ‘recovery’ is a power bill shock appeared first on MacroBusiness.

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xkcd.com Wednesday, November 12, 2025 - 11:00 Source

'They really shouldn't let those small cars drive in traffic. I worry I'm going to kill someone if I hit one! They should have to drive on the sidewalk, safely out of the way.'

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MacroBusiness Wednesday, November 12, 2025 - 10:30 Source

The ferrous complex remains paralysed by an unsustainable iron ore price. It appears the inaugural cargo has departed the Pilbara killer with great fanfare, though it is unclear. The President of the Republic of Guinea today joined project partners WCS, Baowu, Chinalco and Rio Tinto in a ceremony at the port in Forécariah prefecture to

The post Happy Pilbara killer day! appeared first on MacroBusiness.

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MacroBusiness Wednesday, November 12, 2025 - 10:00 Source

The NAB survey was out yesterday and showed ongoing disinflation in all cost inputs. These costs are the equivalent of 0.6-0.7% per quarter inflation. Hardly terrifying, especially since the survey also indicated an ongoing jobless recovery, with the employment measure stuck at 3, where it has been all year. With the transition from job-intensive spending

The post Aussie inflation eases appeared first on MacroBusiness.

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MacroBusiness Wednesday, November 12, 2025 - 09:30 Source

DXY is the canary in the coalmine. AUD couldn’t ride it. CNY meh. Gold and oil held gains. AI metals faded. Miners meh. EM meh. Junk is only OK. Yields meh. Stocks meh. There is mounting evidence that the US jobs market has stalled out. ADP for October was out overnight weak.  It does correlate

The post American ‘jobpocalypse’ drives Australian dollar higher appeared first on MacroBusiness.

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Renew Economy Wednesday, November 12, 2025 - 09:25 Source
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MacroBusiness Wednesday, November 12, 2025 - 09:00 Source

Risk markets continue to price in some stability returning to US governance – ha! – but then Wall Street stumbled towards the close, unable to build on its big rebound at the start of the week. The USD was relatively stable against the majors although Euro was able to temporarily push above the 1.16 handle,

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Wednesday, November 12, 2025 - 08:00 Source

The Reserve Bank of Australia’s (RBA) latest Statement of Monetary Policy (SoMP) revised its medium-term unemployment rate forecast to 4.4%, up from 4.3%. As illustrated below by Alex Joiner from IFM Investors, the RBA’s unemployment rate forecast to the end of 2027 is slightly lower than the current unemployment rate of 4.5%: Therefore, the RBA

The post RBA’s unemployment forecast already shot to pieces appeared first on MacroBusiness.

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Your Democracy Wednesday, November 12, 2025 - 06:55 Source

President Donald Trump has claimed that the US faces a “national security catastrophe” if the tariffs he introduced against most trading partners this year are ruled illegal.

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Renew Economy Wednesday, November 12, 2025 - 06:48 Source
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Renew Economy Wednesday, November 12, 2025 - 06:48 Source
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Your Democracy Wednesday, November 12, 2025 - 05:44 Source

‘Hermann Göring loved his kids. That’s what’s terrifying’: James Vanderbilt, Rami Malek and Michael Shannon on Nuremberg....

Russell Crowe has a malevolent charm as the Nazi on trial in a compelling new film. His co-stars and director explain how they understood this monster – and the persistence of evil today

 

Ryan Gilbey writes about film and theatre for the Guardian

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MacroBusiness Wednesday, November 12, 2025 - 00:05 Source

The Great Australian Housing Bubble hit a new milestone in October, reaching an all-time high valuation of $12.0 trillion, according to Cotality. “This unprecedented value is more than double the market’s size a decade ago, with the majority of the growth occurring over the past five years”, Cotality Economist Kaytlin Ezzy said. “Interestingly, the composition

The post The great housing bubble hits new milestone appeared first on MacroBusiness.

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George Monbiot Tuesday, November 11, 2025 - 22:50 Source

To Bill Gates, overthrowing the power of the ultra-wealthy seems to be – literally – unthinkable.

By George Monbiot, published in the Guardian 8th November 2025

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Renew Economy Tuesday, November 11, 2025 - 17:23 Source
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Prosper Australia Tuesday, November 11, 2025 - 16:51 Source

Prosper Australia today welcomed the inclusion of a stamp duty to land tax transition in Infrastructure Victoria’s new strategy but criticised the absence of value capture as a sustainable and equitable funding mechanism. “We applaud Infrastructure Victoria’s endorsement of a broad-based annual land tax. This reform recognises that shifting the tax base from transactions to […]

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Renew Economy Tuesday, November 11, 2025 - 16:47 Source
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MacroBusiness Tuesday, November 11, 2025 - 16:00 Source

Not quite a green a day as expected here in Asia with only some markets moving higher in the wake of the news that the Republican shutdown of the US government may finally be coming to an end. While gold continued to push higher, other undollars like the Kiwi and Australian dollar have steadied with

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Tuesday, November 11, 2025 - 15:01 Source
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Your Democracy Tuesday, November 11, 2025 - 14:59 Source

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Renew Economy Tuesday, November 11, 2025 - 14:58 Source
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Renew Economy Tuesday, November 11, 2025 - 14:53 Source
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