On Saturday, I was interviewed by Radio 2GB’s Luke Grant, where I explained the drivers behind Australia’s falling inflation. I also ran through the latest dwelling approvals and housing finance data, which I described as a “national disaster” which infers that “Australia’s housing crisis is going to get worse”. Below are highlights of the housing
Australian house prices are either stalled or falling. The primary reason for this is the worsening job market and the rise in interest rates.: If you want to buy a home, now is the time to do it, while sentiment is weak. In the Australian real estate market, you will never find a deal. However,
The Albanese ALP Government’s revision of the Morrison Government’s Stage 3 Tax cuts ensures one thing in the lead up to the next election, and that is talk of tax reform. Rightly so, as Australia is screaming for it. The surreal thing is it seems to have caught both sides of mainstream politics on the
By Gareth Aird, head of Australian economics at CBA: Key Points: We expect the RBA will leave the cash rate unchanged next week and see no chance of any other outcome. We anticipate the Board will retain a mild tightening bias, but the risk sits with the removal of the hiking bias. The RBA will
DXY is up and away: AUD broke a head and shoulders top and is in free fall: AUD positioning is not extreme and has room to fall: North Asia too: Oil puke: Dirt puke: Mining puke: EM meh: Junk puke: Treasury puke: Stocks whoa! US jobs went nuts: Total nonfarm payroll employment rose by 353,000
It’s baaack. This time, in the guise of Wazza McKibbin screeching: Waz should take a look out the window. His proposed neutral rate is killing households. The real interest rate hasn’t been 4.5% for any period post-millennium and only very briefly before the global financial system melted down in 2008. It didn’t get anywhere near
It was a massive week of media appearances for MB. Talking excessive immigration and the rental crisis with ABC Brisbane’s Steve Austin: Talking Australia’s per capita recession with Ben Fordham on Radio 2GB: Unpacking the latest CPI data and interest rates live on air on Brisbane’s 4BC with Bill McDonald: Discussing the latest inflation and
Asian share markets are still doing well outside of China as Wall Street continues to lift all risk markets, but with some hesitation as we go into tonight’s US non farm payroll print. The USD is still mixed as a result although the Australian dollar is lifting higher to hold just below the 66 cent
Nowhere on Earth is economic mismanagement so pervasive as it is Canberra: Preliminary estimates for January indicate that the index increased by 2.3 per cent (on a monthly average basis) in SDR terms, after increasing by 3.2 per cent in December (revised). The non-rural, rural, and base metals sub-indices all increased in the past month.
Earlier this week I reported on New Zealand’s CPI inflation which, like in Australia, has fallen more quickly than the Reserve Bank forecast. The below chart from Justin Fabo at Antipodean Macro summarises the situation in New Zealand: The next chart from Fabo shows that inflation is falling across a wide range of categories: Meanwhile,