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Terry McCrann

Michele Bullock, governor of the Reserve Bank of Australia (RBA), in Sydney, Australia, on Tuesday, Oct. 24, 2023. Australia’s central bank “will not hesitate” to raise interest rates further if there’s a material upgrade to its inflation outlook, new Governor Bullock said, in her strongest reference yet to the threat of renewed price pressures. Photographer: Lisa Maree Williams/Bloomberg

Bullock is in full command

Five months into the job and Michele Bullock is proving to be a formidable RBA governor who’s in complete control.

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SYDNEY, AUSTRALIA - NewsWire photos FEBRUARY 06, 2024: Pictured is Michele Bullock the Australian economist who is currently governor of the Reserve Bank of Australia speaking at a press conference at the Reserve Bank of Australia (RBA) in Sydney. Picture: NCA NewsWire / Dylan Coker

Why the lady ain’t turning

Wage increases for wharfies and construction workers have left the RBA feeling cautious about its next move as the threat of inflation lingers.

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Treasury Secretary Dr Stephen Kennedy appearing at a Senate Estimates hearing at Parliament House in Canberra. Picture Kym Smith

Treasury really to blame for broken tax cut promise

So now we get the truth, Treasury really was off on a frolic all of its own, in coming up with the Chalmers and Albo’s plan to break the Stage 3 tax cut promise.

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TOPSHOT - US Federal Reserve chair Jerome Powell holds a news conference after a Federal Open Market Committee meeting in Washington, DC, on January 31, 2024. Powell signaled Wednesday that an interest rate cut as soon as in March is unlikely, as the central bank remains data-dependent when mulling its next steps. Powell said the Fed's rate-setting committee plans to "move carefully" and added: "Based on the meeting today, I would tell you that I don't think it's likely that the committee will reach a level of confidence, by the time of the March meeting, to identify March as the time to do that." (Photo by Julia Nikhinson / AFP)

Why the Fed will deliver on rate cuts

The Fed may have caught some by surprise with its cautious approach, but there’s only one way rates are heading in the US, and the RBA should follow its lead.

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Mick Keogh, CEO, Australian Farm Institue talks at the Global Food Forum at Sydney's Westin Hotel sponsored by The Australian Newspaper. Picture: Adam Taylor

Why ANZ must beat inept ACCC

The ACCC decision to black ANZ’s acquisition of Suncorp bank is an embarrassingly awful decision – reflecting gross regulatory ineptitude and an inability to understand the law.

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A pedestrian walks past a Suncorp Bank branch in Melbourne on July 18, 2022. - Australian banking giant ANZ announced on July 18 a 3.3 billion USD deal to swallow regional lender Suncorp Bank -- one of the biggest takeovers in the sector for more than a decade. (Photo by William WEST / AFP)

‘Laughable’ reasons why ACCC banned $4.9bn deal

The competition watchdog decided it wanted to reject Anz’s takeover of Suncorp bank from the start and has spent six months trying to find reasons to back its decision.

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Assistant Treasurer and Financial Services Minister Stephen Jones speaking about the Australian Reinsurance Pool Corporation in Townsville on July 12, 2023. Picture: Blair Jackson

Super: why bigger is best

Ah, the eternal inanity of the spotlessly empty mind. Step forward assistant treasurer Stephen Jones.

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CANBERRA, AUSTRALIA, NewsWire Photos. JULY 14, 2023: Michele Bullock the Next Reserve Bank of Australia Governor at Parliament House in Canberra. Picture: NCA NewsWire / Martin Ollman

Don’t blame RBA if rates go up next year

If interest rates end up going up in 2024, don’t blame new RBA governor Michele Bullock and her semi-new board, blame the ‘team’ in Canberra.

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Philip Lowe, governor of the Reserve Bank of Australia (RBA), attends the annual address at the CEDA Annual Dinner in Sydney, Australia, on Monday, Nov. 16, 2020. LoweÃÂ said generating sufficient employment will probably be more of a challenge for his nation than containing inflation in the years to come. Photographer: Brent Lewin/Bloomberg via Getty Images

Place your bets: Cup day next stop for rates

If September quarter inflation prints at 1.5 per cent or higher, a rate hike would very definitely be on the table on Melbourne Cup day in November.

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United Nations Secretary General Antonio Gutteres delivers a speech at an event launch for the climate TRACE initiative -- a greenhouse gases inventory of the largest facility-level sources -- during the COP27 climate conference at the Sharm el-Sheikh International Convention Centre, in Egypt's Red Sea resort city of the same name, on November 9, 2022. (Photo by Joseph EID / AFP)

Climate change is boiling brains

The head of the UN should be laughed out of office for going straight from ‘global warming’ to ‘global boiling’, without even pausing to pass ‘global heating’.

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Former Ukip leader Nigel Farage in his local village near Westerham, Kent, following the resignation of NatWest chief executive Dame Alison Rose after she admitted to being the source of an inaccurate story about Mr Farage's finances. Picture date: Wednesday July 26, 2023. (Photo by Gareth Fuller/PA Images via Getty Images)

Banks must beware of going ‘woke’

Australian bankers must not follow in the footsteps of one of their ‘woke’ UK counterparts who was ousted this week after leaking details about high profile client Nigel Farage.

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Philip Lowe, governor of the Reserve Bank of Australia (RBA), speaks during the Australian Payments Network Summit in Sydney, Australia, on Wednesday, Dec. 14, 2022. Lowe reaffirmed his desire to stay in the top job as his seven-year term approaches its end and amid ongoing calls for him to resign. Photographer: Brendon Thorne/Bloomberg

No rate rise after surprise good inflation numbers

Outgoing RBA governor Philip Lowe should be chuffed at the latest lower-than-expected inflation numbers which mean there’s no chance of a rate hike next month.

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Original URL: https://www.couriermail.com.au/business/terry-mccrann/page/22