Categories
Australian interest rates
Ray Dalio: Bring on MMT!
David Llewellyn-Smith
6 years ago
44
Labor must gut the Reserve Bank of Australia
Here’s the chart that has destroyed the credibility of the Reserve Bank of Australia: And here is the very obvious reason why it failed so horribly: The bank focused on unemployment when it should have been watching underemployment.
David Llewellyn-Smith
6 years ago
39
New NAB CEO talks wall-to-wall nonsense
Via the AFR comes National Australia Bank chief executive Philip Chronican: …who has dismissed calls for an interest rate cut when the Reserve Bank of Australia meets next Tuesday, saying it was unnecessary and would do little to stimulate the economy.
David Llewellyn-Smith
6 years ago
3
Pre-nationalisation Genworth booms
Via some very temporary factors, via Banking Day: Australia’s largest direct provider of lender’s mortgage insurance, Genworth, has recorded a sharp turnaround in first quarter profit after crystalizing monster gains on its investment portfolio.
David Llewellyn-Smith
6 years ago
6
ANZ demands RBA AND APRA cuts
David Llewellyn-Smith
6 years ago
45
CEO hubris erupts around lunatic RBA
David Llewellyn-Smith
6 years ago
18
RBA anus doves up
Via Terry Mccrann: A rate cut at next Tuesday’s Reserve Bank meeting is possible but remains most unlikely.
David Llewellyn-Smith
6 years ago
4
More on why APRA cuts are a very bad idea
This time via the excellent Damien Boey at Credit Suisse: It has been widely reported in the press that the RBA and APRA are considering cutting the interest rate applied to debt serviceability tests for mortgages by 50bps.
David Llewellyn-Smith
6 years ago
33
What’s oil about to do to central banks?
Via Capital Economics: Oil has been thrust back into the headlines over the past week following a spike in prices that has taken Brent crude back to around $75pb.
David Llewellyn-Smith
6 years ago
CS: Curve steepening at hand
From the excellent Damien Boey at Creit Suisse: We have just published a note explaining our positive view of the slope of the yield curve.
David Llewellyn-Smith
6 years ago
Should we lower the lunatic RBA’s inflation target?
The state of debate in this country is appalling.
David Llewellyn-Smith
6 years ago
14
How to do Australian “helicopter money”
Via BI: Citibank’s Australian economics and interest rate strategy team believe there’s a third option available to the RBA should the need arise: “helicopter money”, or printing money to be distributed to the public via the government.
David Llewellyn-Smith
6 years ago
21
Lunatic RBA and APRA mull new monetary insanity
From Chris Joye late yesterday: Industry participants believe the central bank and banking regulator are considering a targeted alternative to a cut to the official cash rate, which would involve lowering the minimum 7.25 per cent interest rate banks use when assessing a home loan borrower’s repayment capacity by 50 basis points to 6.75 per cent.
David Llewellyn-Smith
6 years ago
62
Bill Evans: RBA won’t cut in May
Via Bill Evans of Westpac: On February 21, Westpac Economics indicated that we believe that there is a case for two RBA rate cuts in 2019 – with the likely timing to be in August and November.
David Llewellyn-Smith
6 years ago
8
Inflation expectations plunge to multi-year low
By Leith van Onselen Following last week’s crashing headline and underlying inflation over the March quarter: Roy Morgan has released its Inflation Expectations Index, which has plunged to levels not seen since late 2016: In March, Australians expected inflation of only 4% per year over the next two years.
Leith van Onselen
6 years ago
3
Does the lunatic RBA want Straya to be Greece or the US?
Via Alan Kohler on the weekend: As if reducing retirees’ incomes again is going to make any difference.
David Llewellyn-Smith
6 years ago
44
Bloxo versus everybody (updated)
Everybody is now forecasting imminent rate cuts: ANZ, NAB, WBC, MQG, CITI, CS, RBC, JPM, UBS, ME, TD, NOM, MB, bond and interest rate markets.
David Llewellyn-Smith
6 years ago
6
What next from the lunatic RBA?
The Deflation Bank of Australia faces a conundrum, via The Australian: The RBA is facing up to the reality that a review of its economic forecasts on May 10 will include cuts to both its GDP growth and inflation forecasts, sharply eroding any optimism it might retain about the economic outlook.
David Llewellyn-Smith
6 years ago
18
CPI in detail: Bullhawks crash!
Leith van Onselen
6 years ago
3
Aussie bonds explode as RBA emergency rates to get emergencier
David Llewellyn-Smith
6 years ago
12
Some variable mortgage rates cut
Via Banking Day: While there have been plenty of lenders dropping fixed rates in recent months, few have cut their variable rates.
David Llewellyn-Smith
6 years ago
4
Australian inflation tanking?
Via Westpac: • Westpac’s forecast for the March quarter CPI is 0.1%qtr with the annual pace easing back to 1.4%yr from 1.8%yr.
David Llewellyn-Smith
6 years ago
10
Has the great Aussie bond rocket flamed out?
David Llewellyn-Smith
6 years ago
1
RBA’s dodgy negative equity analysis
Via the excellent Damien Boey at Credit Suisse: We think that the RBA will cut rates, probably in 2H.
David Llewellyn-Smith
6 years ago
27
UBS: CPI to pull donut, trigger early RBA cuts
Via the excellent George Tharenou at UBS: Based on our proprietary survey, we cut our Q1 headline CPI forecast to 0.0% q/q (was 0.2%), a sharp slowing from Q4’s 0.5%.
David Llewellyn-Smith
6 years ago
12
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