Blogotariat

There I was thinking I had plenty of time to write the next Sleeper Agent book before Christmas because I Always Intended To Write The Next Sleeper Agent Book Before Christmas.

And then…

As expected, there is no movement on interest rates in today’s Reserve Bank of Australia statement on monetary policy.

The Reserve Bank left the cash rate unchanged at 4.35%.

The Reserve increased the cash rate by 0.25% at its November meeting. Since then a 4.9% inflation rate has been recorded, easing the pressure on the bank for one more rate increase.

In its statement today, the Reserve Bank said:

The Reserve Bank of Australia (RBA) today held the official cash rate steady at 4.35%, as expected by markets and economists. In delivering the news, the RBA statement noted that data over the past month has moved in line with expectations, and stressed that it will only lift rates again if warranted by the data.

The post RBA delivers hopeful hold appeared first on MacroBusiness.

Justin Fabo at Macquarie Group has charted Tuesday’s weak ABS Household Spending Indicator (HSI) against household consumption in the national accounts: As shown above, the HSI is pointing to a further softening of household consumption growth when the ABS releases the September quarter national accounts on Wednesday. This is concerning since household consumption drives more

The post Australia’s per capita recession rolls on appeared first on MacroBusiness.

You can multiply this debate 1000x across all major Aussie cities. From Greens idiots in Sydney’s west: The future of one of the last significant blocks of industrial land in Concord West is about to be determined, with a focus that ignores the future community needs of the area. In tomorrow’s Canada Bay council meeting, councillors

The post Envirovandal Greens debate what to crushload appeared first on MacroBusiness.

Before last month’s interest rate hike from the Reserve Bank of Australia (RBA), Australian households were already spending a record share of their incomes on mortgage repayments: Australian households were also spending a higher share of their incomes on essentials like rents and energy following rampant inflation over recent years. To nobody’s surprise, these factors

The greatest accomplishment of the Albanese Labor Government has been delivering the worst rental and homelessness crisis in living memory. The Albanese government has lifted net overseas migration to an estimated record high 500,000, driven by surging temporary migration (mostly foreign students). Labor has also lifted the permanent migrant and humanitarian intakes to record highs.

The Market Ear kicks us off. The big short is now a big long From minus 200bn to plus 200bn… GS Crap is king In mid November (here), we asked ourselves rhetorically when the chase for laggards and low quality would begin. Fast forward to today and things have really picked up. The chase for

The post Last year, everybody was bearish. Now, they’re all bullish appeared first on MacroBusiness.

The Victorian Government is already drowning in debt with the nation’s lowest credit rating. Victoria has the nation’s largest state debt (Source: Alex Joiner). Victoria’s debt is projected to explode over the coming years on the back of massive infrastructure spending and poor financial management. Moody’s recently projected that Victoria’s debt would increase by 85%