Oz Blog News Commentary

Articles from MacroBusiness

Social housing solution an unrealistic pipe dream

February 7, 2024 - 00:05 -- Admin

The Community Housing Industry Association has stated in its pre-budget submission that public housing stock has only increased by 5.2% since 2012, compared to a 15.1% increase in the population. The Association stated that the current level of unmet housing need amounts to 640,000 households, with that figure expected to increase to one million by

Macro Afternoon

February 6, 2024 - 17:00 -- Admin

Only Chinese share markets are rebounding here in Asia as risk sentiment remains negative as the trading week struggles to get a move on despite some strong economic data from the US. The USD has given up a small amount of ground but remains strong following the upside surprise in the jobs print on Friday

RBA downgrades inflation forecast

February 6, 2024 - 16:39 -- Admin

By Gareth Aird, head of Australian economics at CBA: Key Points: The RBA Board today left the cash rate on hold at 4.35%, as was universally expected. The Board has retained a tightening bias as we anticipated, though the language has shifted a little: “a further increase in interest rates cannot be ruled out”. The

RBA holds rates, as expected

February 6, 2024 - 14:42 -- Admin

The Reserve Bank of Australia (RBA) held the official cash rate (OCR) at 4.35%, as expected by analysts. In its statement, the RBA noted that inflation is easing but remains high. It also noted that the outlook is uncertain and that it would await further data before changing its tightening bias. Below are highlights from

Australia’s great and powerful neurotics

February 6, 2024 - 14:00 -- Admin

There is lovely China: Efforts to stabilise Australia’s relationship with Beijing have suffered a serious setback after a Chinese court handed a suspended death sentence to jailed dual citizen and democracy advocate Yang Hengjun. As the Australian government and opposition described the sentence as appalling, China’s ambassador to Australia, Xiao Qian, was summoned by the

Aussie new car sales strong in January

February 6, 2024 - 13:30 -- Admin

The Federal Chamber of Automotive Industries (FCAI) has released new car sales data for January, which smashed records. 89,782 new vehicles were recorded in January, 5.8% more than January 2023 and breaking the previous January record of 88,551 set in 2018. The record January result was driven by customers’ strong preference for SUVs and light

Grantham: Beware the AI bubble

February 6, 2024 - 13:00 -- Admin

An interview with Think Advisor has good advice from Jeremy Grantham. In the recent interview, Grantham also offers his long-term outlook for artificial intelligence. “What I specialize in other than bubbles are long-term, underrated negatives,” he says. “And my God, there’s a rich collection of negatives right now.” Here are highlights of our conversation: THINKADVISOR:

NSW tenants’ union fails renters

February 6, 2024 - 12:30 -- Admin

Leo Patterson Ross penned an article at the Tenants’ Union of NSW claiming that while “there is a clearly strong link between vacancy rates and real rents”, “there is not a strong link between population change and rent change”: This analysis is based on data from the 2016–2021 census period. The analysis obviously doesn’t pass

Albo pivots to low-paid slave visas

February 6, 2024 - 12:00 -- Admin

Jobs & Skills Australia (JSA) has been asked for advice on what professions and jobs should be included in a new three-tier skills visa scheme, including one for lower-paid essential workers. With JSA being the government agency that assesses workforce needs, acting commissioner David Turvey says foreign agricultural labourers could be included in the proposed

Markets abandon commodities

February 6, 2024 - 11:30 -- Admin

RBC with the note. Total commodity investor AUM in January started off the year on a weak note, albeit the least weak example in the last six months. Exchange traded products continued to decline due to withdrawals from the gold ETP (despite the usually gold-positive rate cut narrative). Meanwhile, index AUM itself experienced the least