Good news for the US, great news for us
There are simply no downsides for us from the US reporting lower inflation figures. That doesn’t mean that catastrophe is not looming though.
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.
The US Fed’s rates decision is the real factor in how their economy, and by extension ours and our interest rates, will perform.
Original URL: https://www.heraldsun.com.au/journalists/terry-mccrann/page/12