By: ssec

Ricardo, Rajat, I have been following the "Broad Money" aggregate released monthly by the RBA with some interest... August was negative m/m (!) and very low y/y. I think the graph below speaks for itself. Now consider that rates are at record low already. So where is the housing "boom" coming from? y/y broad money growth: http://imageshack.com/a/img713/3650/llmf.png Is this a coincident, lagging or leading indicator ?