"... The minutes say the significant rise in inflation had been largely the result of global factors, which were likely to have a more temporary effect.
"(But) the flow of information on inflation and wages over the preceding month had been consistent with more persistent inflationary pressures arising from limited spare capacity in the domestic economy," the minutes say. ...
At this stage, economists are expecting a further 0.25 percentage point increase in the cash rate at the RBA's June board meeting.
However, a bigger increase may be seen if Wednesday's wages data for the March quarter proves stronger than forecast.
Whatever the case, economists expect the cash rate could reach around 1.5 per cent by early 2023 ..."
RBA saw risk of waiting to hike cash rate
The minutes of the Reserve Bank of Australia's May board meeting show there was a concern among board members of waiting to raise the cash rate.7news.com.au
The scare mongers were saying up to 3%. I had thought around 2%. But 1.5% is alot better.
If inflation is at 5or 8 %,and gdp grows by 4%..what does it says on your economy....?GDP forecast to grow by 4.25% in 2022, by 2% in 2023.
Still a "resilient" economy.
I'm not an Economist, but it sounds like more of what we are seeing now, our Economy still pushing strongly into the Inflation "headwinds". Demand still strong. Until Demand faulters our Economy should remain "resilient". Lack of Demand drives recessionary forces in the short term I believe - Keynesian economics.If inflation is at 5or 8 %,and gdp grows by 4%..what does it says on your economy....?
Unless mistaken, gdp is not inflation corrected...
i THOUGHT i saw a prediction of 2.5% , made by the RBA ( to occur by December 2022 ) shortly after the recent increaseThe scare mongers were saying up to 3%. I had thought around 2%. But 1.5% is alot better.
even GDP is not what it used to be ( just like CPI , , unemployment rates , etc etc )If inflation is at 5or 8 %,and gdp grows by 4%..what does it says on your economy....?
Unless mistaken, gdp is not inflation corrected...
is that really true ??"household and business balance sheets are generally in good shape, an upswing in business investment is underway"
That's why I put it in bold. That's generally a good marker.is that really true ??
( i know it is a quote from an article )
but not from what i an seeing unless the measurement is taken from the worst of the virus reactions ( and excluding the much better times before 2020 )
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