The Reserve Bank of Australia (RBA) is famously bad at forecasting Australian wage growth. For the past 15 years, the RBA’s Statement of Monetary Policy (SoMP) has routinely forecast stronger wage growth than has occurred. The RBA continues to make the same mistakes, with Australian wage growth falling more than projected despite the nation’s low
What a difference an election makes! DXY is in free fall. EUR surging. AUD follows EUR and is threatening a 2025 breakout. Concrete boots are stable. Gold is in heaven. Nobody needs an oil rally. Metals ex-copper are signaling much weaker growth. Big miner’s big bear is intact. EM meh. Junk skunk. Yields have at
Weird things happen. At 2 o’clock in the morning on Easter Sunday a mate at the BBC beams me a question. “Haven’t your mates been saying this for years?’ seconds before another Youtube video link is fed through. This is it. Within minutes another close mate a long way up the
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For years, Macro Business has sounded the alarm about Australia’s immigration-driven housing crisis. The data is indisputable. Australia’s rental affordability has plummeted to a record low, with households forced to devote a record portion of their income to rent a home. Rents have risen about 50% nationwide since the pandemic’s beginning, driving the rental affordability
CoreLogic released its final auction results for last weekend. The clearance rate was just 59.9% nationally, the second time in three weeks it has been below 60%. The following chart plots the monthly average final auction clearance rate across the major markets. As you can see, the decline in the national final clearance rate has
International Reading: Stock Market Plummets as Fed Chair Powell Gives Dire Warning: Donald Trump’s policies are about to destroy the economy. – New Republic Tariffs will hit US economy and raise prices, Fed boss warns – BBC Fed Chair Powell gives starkest warning yet on potential economic consequences from tariffs – CNN Trump’s trade war
As the world fights back against the Trump regime’s tariff nonsense, the latest Japanese trade figures showing a sharp decline in exports to the US year on year while locally the latest numberwang showed mixed sentiment around employment that could upset the expected cut from the RBA in May. The Australian dollar is still holding
The Albanese government’s Australian Universities Accord Final Report set a target of 55% of young Australians having a university degree by 2050. The report states that to meet its 55% university attainment target, “the system will need to more than double the number of Commonwealth-supported students in universities from 860,000 currently to 1.8 million by
At the end of 2024, CoreLogic reported that rental affordability hit a record low, with the median-income household required to spend 33% of their income to rent the median home. Last month’s rental affordability report from PropTrack also showed that households at the end of 2024 could afford to rent the smallest share of advertised