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Remember when petrol cost under a dollar a litre, a pub lunch was $10, and a soft serve from McDonald’s was 30 cents? These ‘price memories’ shape what we think we should be charged today. So much so that every tap of the card or phone can feel like a bit of a rip-off. And… Read more »
After last week’s Reserve Bank interest rate increase, I warned of the possibility that rising rates coupled with rising petrol prices had the possibility of crushing Australian household budgets. Reinforcing my point, this week’s ANZ-Roy Morgan consumer confidence figures are down 20 per cent – the worst result since the oil crisis in 1973. Consumers… Read more »
Governments across all levels are spending at record levels … That record spending was justified during Covid because it stopped the economy from plunging into a Depression. The problem is that this level of spending has continued even as the economy has returned to normal. As a result, inflation has surged again and interest rates… Read more »
The Reserve Bank is under pressure to lift interest rate. The much-anticipated December quarter inflation rate was a shocker. And when the Reserve Bank Board meets on Tuesday 3 February, they will have to seriously consider raising official interest rates. It’s not just the actual figures that would be concerning the RBA, it’s more the… Read more »
The whole world is watching Japan right now … and for good reason. Bond markets are something many everyday investors find complicated and, frankly, a bit boring. But for institutional and professional investors, they are anything but. Bond markets act as the canary in the coal mine for the global economy and financial system. It… Read more »
The Reserve Bank wants to cut interest rates – but it doesn’t know when, and it can’t guarantee that cuts will happen at all. That’s the bottom line from Tuesday’s RBA decision to keep rates on hold, and the clear message from Michele Bullock’s press conference following the announcement. Interest rate horoscope The chart below… Read more »
We’ve been bombarded by coverage of the federal budget, which is likely to only remain relevant for a couple of months in light of the upcoming federal election. But here are my quick thoughts on it: Economy looking OK (for now) The economy seems to be bouncing back with Treasury forecasts seeing economic growth accelerate… Read more »
As I’ve been saying, there will be no interest rate cut until 2025. Let’s take a closer look at the new CPI figure … Before the latest quarterly CPI figure was released, financial markets had factored in a 30 per cent chance of an interest rate cut at the December Reserve Bank board meeting. After… Read more »
Jim Chalmers, face facts and take responsibility. The economy has slowed to a crawl … because of you. Interest rates are staying higher for longer … because of you. Australian families are hurting from a cost-of-living crisis … because of you. There is a housing and rental affordability crisis … because of you (and the… Read more »
There is always a blame game when it comes to interest rates, and now to RBA is pointing the finger … I’ve been saying for a while that Australians don’t deserve another interest rate hike to fight inflation because we are doing the right thing by reigning in inflation. Cost increases are mostly coming from… Read more »
