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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 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 »
“All I want for Christmas is a rate cut,” many homeowners are saying. Well, I’m afraid that wish is looking unlikely now. Reserve Bank Governor Michele Bullock had warned us that a September-quarter CPI trimmed mean of 0.9 per cent would be a “material miss” for the RBA’s forecasts. On Wednesday, the actual figure came… Read more »
Unpredictable economic times have us all biting our fingernails. Here’s why the RBA is playing it safe. It was no surprise recently that the Reserve Bank kept official interest rates on hold at 4.1 per cent even though inflation is now back down in the preferred 2-3 per cent target range. As I mentioned in… 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 »
Leading into COVID we were on a world record-breaking run of consecutive quarters of positive economic growth. Since the lockdowns finished the Australian economy has been tough going. Economic growth figures out this week were ugly – up just 1 per cent for the quarter and just 1.1 per cent for the year. Remember, this… Read more »
Federal Treasurer Jim Chalmers is a self-confessed disciple of Paul Keating. My challenge to Chalmers is to step up from being a disciple of, arguably, Australia’s greatest-ever treasurer to being this generation’s economic reform messiah. In the 1990s Keating (with the support of PM Bob Hawke) reformed the Australian economy and 30 years later we… Read more »
Reserve Bank Board meeting week and, as expected, official interest rates were kept on hold. But there was an important change in the statement explaining the announcement. The words are now more important than the actual decision. From saying “a further increase in interest rates cannot be ruled out” in September, this week’s statement said… Read more »
Interest rates are a blunt instrument, but governments have more options to help fight inflation. They’re just not using them. The Reserve Bank boss, Michele Bullock, recently said interest rates were a “blunt instrument” when it came to fighting inflation. In other words, the impact of interest rate rises can be a bit of a… Read more »
