Why US rate cuts are more likely
Even though our Cup Day rate hike was a mistake, the US is likely to beat us to the next move – which will be down.
Even though our Cup Day rate hike was a mistake, the US is likely to beat us to the next move – which will be down.
Infrastructure Australia has exposed the huge hole in the government’s immigration plan, which puts the interests of most Australians last.
How can anyone trust anything this government and these two ministers in particular say – far less, actually do – about immigration?
Whether it’s attacks on miners or destruction of the energy system, the government is doing its best to destroy the economy, just in time for Christmas.
Did Treasurer Jim Chalmers make the catastrophic mistake of ‘forcing’ new Reserve Bank governor Michele Bullock to hike interest rates on Melbourne Cup Day?
The RBA governor decided quite rightly not to be The Grinch this Christmas. But what’s in store on the interest rate front for next year?
AustralianSuper did the nation a service in blocking the takeover of Origin Energy, which its suitors were looking to pick up for a bargain – to the detriment of us all.
Those calling for stage three tax cuts to be abandoned are really calling for big tax increases on you.
Michele Bullock has made her point about reining in inflation, but a slump in retail spending should kill off any thoughts of another rate hike next week.
BHP can invest anywhere in the world. The Albanese government’s ‘same job, same pay’ industrial relations reforms risk driving that investment offshore.
Finally the RBA governor Michele Bullock has a deputy governor by her side. Now for the ‘Clayton’s’ overhaul of the organisation.
The federal government is going all-in on energy insanity, and it’s us, the taxpayers, who are going to pay.
By selling Crown at exactly the right time and at a spectacularly high price, James Packer has ‘made’ at least $5bn and possibly as much as $7bn.
Has Treasurer Jim Chalmers actually got himself – and the rest of us – a more hawkish Reserve Bank governor in Michele Bullock than her predecessor Philip Lowe?
The Optus chief executive had to go. But not for the reasons you probably think.
Borrowers can breathe a sigh of relief, with the latest wages and jobs data all but ruling out another interest rate hike this year.
There are simply no downsides for us from the US reporting lower inflation figures. That doesn’t mean that catastrophe is not looming though.
Poor policy on a number of fronts means there are dark economic times ahead, and the hoped-for surge from increased immigration is not working.
The four big banks made a big headline figure of $49bn in profit – but don’t forget the $13bn in tax paid and $42bn they injected into the economy.
The RBA has delivered the big banks an unparalleled golden period, the likes of which we have never seen before, and which we should hope to never see again.
Next year we’ll be told how the votes have flowed for and against interest rate rises at the RBA, which will pose a challenge for the governor.
This interest rate rise was a surprise to many – but it indicates that Michele Bullock and this board are answerable only to what they see as their one job – to control inflation.
Everyone needs to take a chill pill about the prospect of a Cup Day rate hike. It’s not as significant as ‘they’ are saying, for the economy or for the new RBA governor.
Failing to back Star’s recent capital raise has turned out to be a winning strategy for the retail shareholders who passed on the ‘opportunity’.
The RBA should ignore Treasurer Jim Chalmers’ bully boy tactics, and must deliver what’s best for the economy when it meets on Cup Day.
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.
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.
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’.
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.
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.
The Dow Jones has surged 4 per cent in the past fortnight with Wall St believing the Fed has won the battle over inflation. But it might be too early to call it a fairytale ending.
The competition regulator has combined arrogant lawlessness with stunning incompetence in its dithering over ANZ’s attempt to takeover Suncorp bank.
The prime task of the incoming governor of the Reserve Bank, Michele Bullock, is to get inflation down into the 2-3 per cent range and keep it there. It’s a highwire act.
The Comm Games economic and reputational catastrophe shows Victoria urgently needs a comprehensive and independent audit of its infrastructure spending and financial position.
Victoria reneging on the Commonwealth Games is utterly humiliating for Chairman Dan and now all Australians will be picking up their share of the state’s financial woes.
Anthony Albanese and Treasurer Jim Chalmers had every right to choose the next RBA governor – but they also carry the can for that choice.
In the absence of extending Philip Lowe’s term, appointing Michele Bullock as the next RBA governor is the optimum outcome as it provides monetary policy continuity.
With inflation cooling, the US may just have pulled off the much-desired economic ‘soft landing’ but it is a very different situation in Australia.
Treasurer Jim Chalmers has made an extended soap opera out of the appointment of the next RBA governor which has been grossly disrespectful to Philip Lowe.
Money laundering regulator Austrac has been able to turn utter incompetence and breathtaking failure into a multibillion-dollar penalty franchise.
The PM and Treasurer will announce the next RBA governor this week and I can confidently share it won’t be Philip Lowe nor our current ‘minister for energy idiocy’.
For many years we got to have our cake and eat it too but maybe we have entered a new reality with sustained 4-5 per cent inflation and an RBA cash rate around 4 per cent.
Treasurer Jim Chalmers has made no public statement that he will replace Philip Lowe as RBA governor but privately six names have been tossed around about who could fill his shoes.
June quarter inflation data and the appointment of RBA governor Philip Lowe’s successor are the keys to Australia’s interest rate future.
For the third month in a row the Reserve Bank board will again be asked to choose between hiking by 25 points or pausing.
Who do you really want running the RBA, making tough interest rate decisions – an independent governor and board or a treasurer focused on the ‘soft option’?
Anything that makes Telstra stronger has to hurt its competitors and competition – that’s essentially the logic behind blocking its deal with TPG. But the decision has left a mess.
The RBA’s June policy meeting minutes have revealed an important shift in the way Governor Phil Lowe and his board operate their interest rate decision making process.
In reality only a very small proportion of home loan borrowers have had their cash flow and savings devastated by RBA rate rises.
There’s a sort of weird, hyper-nervous optimism on Wall St and it’s all about guessing when the Fed will stop lifting rates, and then switch to cuts.
Original URL: https://www.dailytelegraph.com.au/business/terry-mccrann/page/3