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Articles from MacroBusiness

Macro Afternoon

March 19, 2024 - 17:00 -- Admin

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

RBA oil tanker swings dovish

March 19, 2024 - 14:51 -- Admin

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

Australia doesn’t need another housing inquiry

March 19, 2024 - 14:00 -- Admin

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

NSW budget sabotaged by immigration

March 19, 2024 - 13:30 -- Admin

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

Dutton engulfed by nuclear mushroom cloud

March 19, 2024 - 12:30 -- Admin

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

Greens are de-housing Australia’s youth

March 19, 2024 - 12:00 -- Admin

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

Greens making good sense on breaking supermarkets

March 19, 2024 - 11:30 -- Admin

This is a good policy: Australia’s competition regulator would gain powers to “smash the supermarket duopoly” and force the breakup of big supermarket chains, under a push from the Greens to be introduced to federal parliament. The Greens will this week table a private senator’s bill seeking to introduce divestiture powers into Australian competition law.

Brisbane house prices are becoming a bubble

March 19, 2024 - 11:00 -- Admin

PropTrack’s home values index shows that Brisbane dwelling values have increased by 61% since the beginning of the pandemic, dwarfing the 33% increase across Sydney and the 16% rise across Melbourne: PropTrack also showed that Brisbane’s median dwelling value was equal to Melbourne’s at $797,000 in February. Admittedly, Brisbane has a higher share of detached houses

Broke Victoria forges backwards into rust bucket state

March 19, 2024 - 10:30 -- Admin

Victoria’s population has surged by around 2.2 million people this century to more than 6.8 million people: Official state government projections have Victoria’s population swelling to 11.2 million people by 2056, with Melbourne transforming into a megacity of 9.0 million people: The overwhelming majority of this growth will be driven by net overseas migration: This

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