Criticism of the RBA is usually implicit. Westpac is clear about it. Normally, monetary policy decisions should not come down to a single number tipping the balance. Monetary policy affects the economy with a lag and thus needs to be forward-looking. This time around, though, as in several recent quarters, the latest read for underlying
The post RBA wildly overshot again appeared first on MacroBusiness.
I have been banned from Facebook for a second time. The first time was some years ago, when I posted a simple statement along the lines of ‘with Brexit, the UK has shot itself in the foot’. The morons who ran the community standards system at Facebook told me that I was advocating violence, rather than just pointing out the stupidity of the UK leaving the European Union. I seem to remember that ban lasted for a week. In this latest episode, I have been permanently banned and was initially told that I have departed from community standards with regard to cybersecurity.
The ferrous complex is in a stark reversal. The driver is a supply-side rationalisation of steel output, but it is vague. Goldman. On the macro policy stance, the Politburo required that macro policy should remain pro-growth, and its intensity should be strengthened at an appropriate time (“持续发力、适时加力”). Policymakers reiterated their pledge for implementing a “more
In the years since the pandemic, Canada has run one of the largest migration programs in the world in per capita terms, with its level of population growth rising to almost 3% in 2024, according to figures from the World Bank. This left Canada ranked 11th in the world for population growth, sandwiched between Angola
The post Canada faces migration revolt appeared first on MacroBusiness.
Justin Fabo from Antipodean Macro and Alex Joiner from IFM Investors published superb sets of charts on Wednesday’s Q2 CPI inflation report from the Australian Bureau of Statistics (ABS), which all but guarantees a 25 bp rate cut at next month’s Reserve Bank of Australia (RBA) monetary policy meeting. As illustrated below by Alex Joiner,
DXY is up and away! AUD broke its rising channel. Lead boots plodded over a cliff. Gold hit, oil the shit. Copper lol. The big bear is back. EM caput. Junk reverse. Yields firmed. Stocks held up. US GDP was at 3% in Q2, materially higher than expectations. ADP jobs rebounded above 104k. And the
The post Strong America, weak China crashes Australian dollar appeared first on MacroBusiness.
Wall Street failed to make new highs overnight as the Federal Reserve held fire on any interest rate cuts with European shares rallying instead as the USD soared to new heights against the major currency pairs. The Trump regime has seen major trade deals with Brazil and India fail due to more bullying from
The post Macro Morning appeared first on MacroBusiness.
Cotality’s daily dwelling value index shows that across the five major capital city markets, home values rose by 0.6% in July, led by Perth (0.9%) and Brisbane (0.8%). Over the July quarter, values rose by 1.8% across the five major capital cities, with Perth (2.5%) and Brisbane (2.3%) again leading the way. The following chart
Threats of new economic restrictions against Russia are not only “dangerous” and counterproductive, but a sign of the severe incoherence plaguing the Trump administration, the world-renowned US economist and political commentator says.
Anti-Russia Sanctions Ultimatum Will Blow Up in US' Face: Jeffrey Sachs Explains Why
RT has a larger American audience than CNN, former US Director of National Intelligence James Clapper has claimed. Clapper was a key figure behind the Russiagate conspiracy theory, which included claims that RT helped influence the election of Donald Trump over Hillary Clinton in 2016.
The Q1 national accounts release from the Australian Bureau of Statistics (ABS) showed that real per capita GDP decreased by 0.2% over the quarter. This was the ninth fall in per capita GDP in eleven quarters. The chart below compares the present decrease in real per capita GDP to previous episodes stretching back to the
