I blame the RBA for hiking rates in the way that it did.
I'd have thought the opposite since CPI is routinely used as a benchmark for pay negotiations.its the first time I have heard that government aligned jobs have a built in protection that stopped them from generating inflation.
if the measure of her sophistication as a lobbyist and representative of a sector of society is to stand in front of a building and shout slogans, then that crowd have lost, already.
i can't work out why , the ALP seem to be doing such a great job ( sarcasm )She and her ilk are worried that the Labor party may lose the next election.
We get crushed because our economy is stuffed on fundamentals, and the only way mining and agro can save our bacon..till the next election is via a low and lower audOvernight the AUD got crunched.
Rates did not change, but perceptions of future downward rates increased.
The irrationality of markets is on display.
US rates have had one reduction, Oz remains the same, but our currency gets crunched.
Mick
IR will fall, inflation will jump and RE will carry on boomingWe get crushed because our economy is stuffed on fundamentals, and the only way mining and agro can save our bacon..till the next election is via a low and lower aud
Didn’t other reserve banks around the world basically do the same? Why is it specifically the RBA’s fault?
Overnight the AUD got crunched.
Rates did not change, but perceptions of future downward rates increased.
The irrationality of markets is on display.
US rates have had one reduction, Oz remains the same, but our currency gets crunched.
Mick
the RBA is usually late ( or too late )The RBA didn't go early enough, nor did it go hard enough IMO, whereas other central banks eg. US, NZ did. It's too sensitive about causing political s#!tstorms and consequently its softly softly approach is costing us now with a protracted per capita recession. Would've been better to go early, go hard, induce a sharp but short lived recession, then start the recovery earlier I reckon. Though who knows whether that would've turned out better or worse, after all real life isn't like a video game where you can just reload an earlier save and try different moves to see how they turn out.
Big projects are being put on hold and their members probably can't gouge like they normally do.She and her ilk are worried that the Labor party may lose the next election.
cynic !! , but you are probably correctBig projects are being put on hold and their members probably can't gouge like they normally do.
I know a lot of union guys. A lot are currently heading to Melbourne for tunnel work?cynic !! , but you are probably correct
maybe they are eyeing a new money-pot , like another solar farm
i am thinking another hold ( no cut ) but the consensus says a 90% chance of a cutWe have the perennial round of speculative essays on which direction, if any, the RBA will move rates after tomorrows meeting.
The Big four banks have all reduced their offering of deposit rates, so its no secret then that they see rates going down sooner rather than later.
Of course, they might just be behaving like the bunch of pricks that they are, but with the added pressure of so many players literally demanding a rate cut, its hard not to agree with them.
As soon as the US eased rates, CPI went up again.
I have a sneaky suspicion that the same will happen in OZ.
Mick
There is no economic reason for a cut imho, and with a truly independent RBA, that would be the end of it.i am thinking another hold ( no cut ) but the consensus says a 90% chance of a cut
of course Albo's reelection chances would look better with a cut , but will the RBA hold strong
( and yes i still see underlying inflation running strongly often disguised as 'shrinkflation ' so watch your container sizes/weights )
Looking at term deposit rates with ING:The Big four banks have all reduced their offering of deposit rates, so its no secret then that they see rates going down sooner rather than later.
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