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After yesterday’s RBA decision to omit any explicit easing bias the interest rate pet shop went bananas, all courtesy of Domainfax
AMP Capital chief economist Shane Oliver:
Overall the statement seems fairly neutral. There’s no indication here that they’re about to cut. But then again, I didn’t really expect that. We’ve had some mixed readings of late with some strong growth and house price inflation readings but against that wage cost growth has been very soft.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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