You’re looking at the wrong economic measure, Chris Joye

Friday 3 June 2016

Chris Joye has posted a tirade in The AFR today arguing that Wednesday’s strong GDP result for the March quarter makes a complete mockery of the RBA’s decision to cut the official cash rate:

As we expected, GDP printed strong in March – a staggering 1.1 per cent for the quarter, making a mockery of the Reserve Bank of Australia’s silly decision to cut interest rates.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.