OMG, Warren Hogan on ABC News still talking about 3 more Reserve Bank of Australia rate rises this year. #DestroyingTheJoint

Yet hawkish economists are calling on the Reserve Bank of Australia to increase the cash rate further - by up to 2-3 times. That would give us the recession they want Australia to have.

More utterly horrible data - this time building apps. Interest rates are crushing builders and developers. Will not turn materially higher till the RBA cuts… hopefully soon

Dwelling approvals lowest since 2012. So rents will rise, increasing the CPI, which will lead to louder calls from monetary hawks to increase interest rates - which will lead to further falls in dwelling approvals. Madness!

Real per capita disposable income growth is probably negative already. How much damage is enough?

The US had a massively expansionary fiscal position. Australia has a small surplus with the prospect of another.

US mortgage interest rates are fixed for 30 years. Ours are not.

Thank you to everyone who came along last night to provide input into which prospective candidates are endorsed in Kurrajong & Murrumbidgee.

This is a very different way of doing politics.

Open, transparent, inclusive & accountable to the community at every stage.

Even more economists predicting and advocating at least two further increases in the Reserve Bank’s cash rate this year - as if recessions are costless to vulnerable people.

ABS describes retail sales as the weakest growth on record outside the pandemic and the introduction of the GST - yet learned economists are urging the RBA to increase interest rates up to three times this year 😳 thenewdaily.com.au/finance/2024/0…

That’s the plan Ben Potter It would involve a Coalition Government paying coal-fired power stations to remain open beyond their economic lives - refurbishing them and probably building at least one new one.

My analysis of today’s release of retail sales figures

And just like that - market back to pricing interest rate cuts...

To economists arguing for further Reserve Bank interest rate increases, I won’t say I told you so, but I told you so. Today’s retail sales figures confirm the economy is weak and further interest rate increases would bring it to its knees.

Terrible retail sales results out today. Previous figures revised downwards too. Yet many economists persist in arguing for further interest rate increases. They won’t be happy until the economy is smashed!

This by Stephen Koukoulas makes sense to me. Using tight monetary policy to bring down the global oil price, insurance premiums after floods, housing rents and private school fees is futile.

The RBA needs to trash its 'trimmed mean' inflation estimate & move to an ‘interest rate driven inflation rate’ target?
Interest rates have next to zero impact on the price of lamb, petrol, tobacco, insurance; but these can impact trimmed mean inflation.
au.finance.yahoo.com/news/rba-has-g…

Craig Emerson ABC Sydney ☝️I thought that was the best interview I had seen Sarah Ferguson do since she took the chair. Allowed the guest to speak and there was a whole lot of valuable insight and information in a short amount of time.

The ABC is going brilliantly tonight. Abandon the culture wars and keep going on the important issues ABC Sydney

A very good take on the inflation/interest rate issue from Craig Emerson Must read.

afr.com/policy/economy….

It seems I’m in a minority, but in my view there’s no case for the ⁦Reserve Bank of Australia⁩ increasing interest rates even further. afr.com/policy/economy…

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Where new life emerges, do we reap what we sow?