The gross flows data shows that the NSW lockdowns in July were damaging. The longer the lockdown, the greater the damage … so the worst is yet to come.
The RBA cut 25bps to 1% on 2 July, delivering a rare back-to-back easing. They didn’t, however, drop the sort of hint that would suggest another cut in August.
The RBA’s realisation that the NAIRU is a bit lower is a case of better late than never. The data shows that the relationship has been getting flatter at a lower level of inflation for some time.
RBA Gov Lowe delivered a speech that was widely interpreted as locking in a 25bps rate cut in June. The
The April employment report revealed a slackening of the labour market — and is probably enough to get a 25bps
The Australian Q1’19 Wage Price index again printed at 0.5%q/q (2.3%y/y). This is the 11th print in the ~0.5%q/q ballpark
I must admit to being a bit stunned by the RBA’s May SOMP. There were a number of elements that
Against my expectations, the RBA left their policy rate at 1.5% today. My main lesson from all this is that
RBA Assistant Gov (Economic) Luci Ellis this morning gave a very careful speech on the household sector. In particular, it
The biggest problem in Aussie macro is weak household cash flow. Today’s Aussie Business Indicators report suggest that things are getting
Today’s Australian Employment report for January 2019 was good — but it was actually better than it looked. The reason