Unconventional Economist

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

Reserve Bank to resume cutting interest rates

The Reserve Bank of New Zealand paused following the RBA this week.

Sydney’s ‘wicked’ housing conundrum

Mark Litwin, Head of Investment Sales (NSW) at Knight Frank, penned a report on Sydney’s housing market fundamentals, which are underpinned by “persistent undersupply”.

The economic week ahead

By Lucinda Jerogin, Associate Economist at CBA Australian CPI inflation surprised to the downside at 2.1%/yr in May 2025.

MB Podcast: Australia is no longer the ‘Lucky Country’

In this MacroBusiness podcast, Gunnamatta and Leith van Onselen unpack the budget outlook, the deindustrialisation of Australia, housing policy failures, energy policy failures, and the nation’s falling productivity growth.

Weekend reading and media appearances

Aussies support cannabis legalisation

A 2024 report by the Penington Institute claimed that cannabis has become an integral part of the criminal economy, representing a $5 billion black market in Australia that generates massive profits for transnational gangs.

NDIS delivers artificial jobs boom

Last week, CBA economist Harry Ottley reported on the quarterly labour market account from the Australian Bureau of Statistics (ABS), which showed that 60% of the nation’s job growth since the beginning of the pandemic has come from the non-market (government-aligned) sector.

Renewable energy suffers fatal flaw

Wind generated power now comprises a substantial proportion of Australia’s electricity supply. As of September 2024, Australia had an installed wind capacity of approximately 13.3 GW. Wind power accounted for 13.4% (or 31.9 TWh) of Australia’s total electricity generation in 2024.

Victorians railroaded into debt slavery

Victoria’s financial situation is dire, as projections indicate that the state’s debt will increase from $155.5 billion to $194 billion by FY29.

Australia’s finances and economy are unsustainable

Credit ratings agency S&P notes that the combined budget deficits of Australia’s state and federal governments total $52 billion, while the net debt now exceeds 60% of the country’s GDP.

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