According to The AFR’s resident economics fluffer John Kehoe, Tuesday’s speech by Michelle Bullock, Deputy Governor at the RBA, “slapped down” the “property doomsayers” – CBA’s head of Australian economics Gareth Aird and Coolabah Capital’s Chris Joye:
The Reserve Bank of Australia has slapped down the pessimists who are concerned that its super-sized interest rate rises will crush the housing market and the economy…
Michele Bullock delivered crucial RBA analysis to argue household balance sheets can handle a potential 3 percentage point increase in the cash rate (since May) by mid-2023 in line with money market pricing…
