macro, politics, markets, ambivalence
Another quarter of weak consumption and a decline of the ABS measure of job vacancies challenges the RBA’s conclusion that there’s no wealth effect form housing & their reliance on the lagging ABS measure of labour demand.
I don’t think the RBA will cut their cash rate in July. It would be odd and out of character for a Governor and a Board that has emphasised that importance of the Bank being ‘a source of stability and confidence’ over the past few years.
Terry McCrann (again) spiked the markets on Wednesday with an explosive article that warned that the RBA could cut 50bps
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
I must admit to being a bit stunned by the RBA’s May SOMP. There were a number of elements that
RBA Shadow Gov. Terry McCrann has published (what looks to be) a backgrounded story explaining the RBA’s post meeting statement.
