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Articles from MacroBusiness

Bill Evans on RBA minutes

February 20, 2018 - 13:39 -- Admin

From Westac’s Bill Evans: From my perspective, the most important issue is around the Bank’s assessment of the household sector. Recall that in the minutes for the last meeting in December, the Board referred to “household consumption continued to be a significant risk”. Subsequently, they would have been shocked by the national accounts report that

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Business Council demands tax cuts to boost profits

February 20, 2018 - 13:20 -- Admin

By Leith van Onselen Business Council of Australia (BCA) boss, Jennifer Westacott, has continued her campaign for company tax cuts, arguing that jobs and pay rises depend on companies becoming more profitable. From The AFR: Business Council of Australia chief executive Jennifer Westacott says she gets “depressed” at business bashing because the jobs of millions

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Trump to join TPP 2.0?

February 20, 2018 - 12:30 -- Admin

By Leith van Onselen The Australian reports today that US farmers and the Republican Party are unhappy with President Donald Trump’s hostile view of free trade, and many Republican senators want him to reconsider his approach to the Trans-Pacific Partnership (TPP). Australian Prime Minister Malcolm Turnbull is expected to discuss the possibility of the US

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Inland rail turns pork

February 20, 2018 - 11:30 -- Admin

By Leith van Onselen I have previously given in-principle support to building an inland rail freight line linking Melbourne and Brisbane: Rail is particularly well suited to two types of freight: Bulk Freight: rail is suited to the provision of high volume bulk freight services to export facilities because it generally requires well defined point-to-point

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Barnaby crisis threatens to turn full blown orgy

February 20, 2018 - 10:59 -- Admin

Via The Australian: Barnaby Joyce would still comfortably win New England if an election were held today, with a margin of about 13 per cent, but his net favourability in the seat has gone through the floor. Polling by the Nationals in the seat conducted on Wednesday and Thursday last week found Mr Joyce had

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Is Bitcoin more trustworthy than sovereign currency?

February 20, 2018 - 10:30 -- Admin

Via Deutsche: Central banks are looking into cryptocurrencies and the underlying distributed ledger technology, as they carry responsibility for issuing physical cash, overseeing and/or providing payment clearing and settlement systems, conducting monetary policy and safeguarding financial stability. In the areas of payments and savings, digital cash would compete against bank deposits, physical cash and private cryptocurrencies

Consumer confidence tumbles

February 20, 2018 - 10:16 -- Admin

We don’t bother with the ANZ weekly confidence number soften. They are so high frequency as to be next to useless. Occasionally they can capture a mood swing though. To wit, bang: The deterioration in views towards financial conditions, particularly current conditions, is a little worrying. In the last few weeks, views towards current conditions

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RBA: Mortgage stress low

February 20, 2018 - 10:06 -- Admin

Via the RBA’s Michele Bullock: Thank you for the opportunity to be here today. The title of the summit, ‘Responsible Lending and Borrowing – Risk, Responsibility and Reputation’, really struck a chord with me because there has been much discussion over the past few years about housing prices and the increasing debt being taken on

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RBA warns on interest-only mortgage cliff

February 20, 2018 - 10:06 -- Admin

Via the RBA’s Michele Bullock: Thank you for the opportunity to be here today. The title of the summit, ‘Responsible Lending and Borrowing – Risk, Responsibility and Reputation’, really struck a chord with me because there has been much discussion over the past few years about housing prices and the increasing debt being taken on

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