The priceless coincidence of two major news events occurring within an hour of each other yesterday had the nation’s top journalists jockeying relentlessly in their favourite pursuit: tenuously-linked punnage.
Interest rate rises
Ask the economists: tomorrow’s RBA announcement
We asked the economists for their punt on the RBA’s interest rate announcement tomorrow, just ahead of the race that stops a nation. They say that the numbers will just keep going up…
The RBA charm offensive
The Reserve Bank is about to embark again on a major selling program as inflation and interest rates resume their historic relationship in the minds and forecasts of the central bank.
Australians don’t blame Rudd for interest rate rise
The latest Essential Report reveals some surprising public opinions: 55% of Australians believe the latest interest rate hike reflects a positive trend in the economy, not “reckless and excessive stimulus spending”. Possum Comitatus has the rest.
Australia: the Switzerland of the South Pacific
It’s Australia’s moment in the global economic sunshine, with strong job figures, and a rising market. “In lifting interest rates, the RBA has succeeded… the Harbour Bridge as the new Australian icon”, writes Michael Evans.
scandal Kohler: How 18 out of 20 economists were wrong
Amongst all the chatter about interest rate rises, rumours were circulating that two journalists were getting leaked info directly from the RBA, reports Alan Kohler. What problems will this bring?
Your Say: Daily Mail readers' feedback: Dangerous ideas
Crikey readers weigh in on Guy Rundle’s Festival of Really Dangerous Ideas, the Indian students report and the possibility of John Howard heading up the NRL commission.
Political snippets: No government this morning
With all the media focus on the Opposition at the moment, the government are staying very very quiet. Plus, the sneaking humorous world of sub editors.
Stimulus isn’t money for nothing. Time to wind it back
Calls are mounting for the Federal Government to reduce its wide-ranging fiscal stimulus package as economists continue to upgrade the prospects for the Australian economy.
Spiralling dollar spells current account chaos
Standby for a good, old fashioned current account scare, as the Australian dollar continues to rise as it did last night in the wake of the Reserve Bank rate rise.
Rates up, more to come
The rate rises have begun, with RBA today lifting its cash rate 0.25% up to 3.25%. Is the Australian economy officially back on track?
Interest rates: what goes down must come back up
Interest rates are likely to rise, but not until business and consumer confidence are a little more stable, writes Ross Gittins.
Crikey Says: Crikey Says
Here’s the word from the Golf Club (a genuine cross-section of voters) about the “important” things making news this week.
Confidence slumps, housing hits brick bottom
With housing mortgages at an 11 year high, home lending running at a 9% low and the worst single month for building approvals, you would have though the media would have been all over the decision by Brickworks Ltd yesterday, to cut production in NSW by 100 million bricks a year, writes Glenn Dyer.
Why a rate rise will only take house prices higher
Interest rate rises are supposed to slow the economy … how then do we explain the surge in house prices in 2007, asks Glen Dyer?
Will Wayne Swan protect the world’s most expensive banking system?
New Treasurer Wayne Swan was very keen not to frighten the banking horses during the election campaign, when his distanced himself from Peter Costello’s jawboning on interest rate rises, writes Stephen Mayne.
Newspoll brings out another Shanahan spin masterclass
All lovers of quality political spin should go out right now and buy, or preferably steal, today’s edition of The Australian. It’s a keeper, writes David MacCormack.
MacCormack: John Howard can’t help himself, can he?
Howard was smart to say sorry on Wednesday. It may not have gained him a single extra vote, but it suggested he was aware of having dudded Australians in 2004. But in offering one of his trademark dips into the dictionary, he undid all that in an instant, David MacCormack.
Comitatus: Polling the economy
The key to understanding the way “the economy” seems to be working as an issue in this election is to not to fall into the trap of seeing it as a single holistic thing, writes Possum Comitatus.
Andrew Murray: They give fiscal conservatives a bad name
We can afford some tax cuts and benefits increases without fearing inflation - but it is the sheer and growing scale and quantum of Liberal/Labor promises that is dangerous and irresponsible, writes Democrats Senator Andrew Murray.
MacCormack: Howard embraces “faith-based reality” on interest rates
The Bush Administration’s practice of ignoring what’s happening on Planet Earth in favour of a more convenient narrative is driving the Government’s handling of interest rate rises, writes David MacCormack.
Woolies continues to ride the retail boom
A cautious first quarter sales report from the country’s biggest retailer, Woolworths but one that makes clear the retail boom we’ve been experiencing since the start of the year is alive and well and high petrol prices are no longer bugbear; while inflation seems to be easing for the retail giant, writes Glenn Dyer.
Comitatus: Howard’s Catch 22
The great problem for political parties that find themselves in government is how to reconcile the interests of their core seats that make up the organisational lifeblood of the party, with their non-core seats that provide the governing majority. Possum Comitatus writes.
Which comes first: the election or the rates rise?
Market economists expect another rates rise before the end of the year. The main question is when. Before, after or during the election campaign?
The Economy: Interest rates on hold
Yesterday there was another weak retail sales outcome, and this will have given the RBA board support for its fence sitting exercise on interest rates.
