Rate cuts coming everywhere but Australia

This is what happens when inept and cowardly politicians run a country.

I give you Albo’s Inflation Island:

According to interest rate futures, every DM in the world is going to see 100bps+ of interest rate relief over the next year, while Australians get one lousy cut.

All thanks to two Albanese Government fateful blunders: the refusal to tackle the gas cartel and overcooking immigration.

My own view is that this is wrong. Australians will receive more relief.

Notably so, as bulk commodities remain under pressure for years and nominal growth collapses with the terms of trade.

Even so, looking to external forces to save your household sector from their own leaders is ridiculous.

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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.