Yesterday’s surprise rate cut is designed to address both the strong dollar and a domestic economy struggling as governments slash spending, say Crikey writers Glenn Dyer and Bernard Keane.
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RBA
Boxing at shadows? China banks may be a threat to our economy
RBA Governor Glenn Stevens has some concerns about China’s “shadow banking” system. He poses questions about the role of non-bank entities in the Middle Kingdom.
READ MOREAn uneven Anglosphere: US, Aus doing OK but Brits in trouble
The US Federal Reserve and the Reserve Bank of Australia are both expecting solid economic growth over the next year or so. But it’s a different matter entirely in the UK, which is a basket case.
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Reserve Bank hacking raises questions — and false alarm
Some malicious hackers — potentially from China — hacked the RBA in 2011. But is it really the international online security threat everyone is claiming?
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Is another dollar-induced, Italian-inspired rate cut coming?
The Reserve Bank has flagged that there may be further interest rate cuts in response to the strong dollar. In the strongest possible terms, report Glenn Dyer and Bernard Keane.
READ MORECrikey says: having a punt on a media stunt
It’s the race that stops … oh, spare us. We’re more interested in the US race (Rundle, Richardson and Poll Bludger report). Chris Mitchell — the country’s most powerful journo? — tells us he’ll quit The Australian. And inside St John’s — it’s more rowdy than our Cup sweep.
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‘Aussie’ attacks Reserve for not making him more money
The RBA makes decisions for all of us, not just hypocritical lending sharks. “Aussie” John Symond should bear that in mind when discussing interest rates.
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Beware the agendas of those calling for banking inquiry
Calls for a banking industry inquiry should be vetted for agendas. And the fixes aren’t as simple as some think, write Glenn Dyer and Bernard Keane.
READ MOREEurope’s perfect storm
It’s beginning to look a lot like a rate cut …
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Labor banks on the Reserve Bank
Labor is clearly relying on the Reserve Bank to be its political saviour.
READ MOREA tale of two banks: RBA and Fed in state of confusion
The Reserve Bank of Australia and the US Federal Reserve are both exhibiting a clear sense of not being convinced about what is happening in the respective economies that oversee.
READ MORESwan’s near perfect application of economic policy
Swan’s very clear message to the RBA is that it can easily cut interest rates knowing that government demand will be dampening demand and inflation pressures over the forecast horizon, writes economist Stephen Koukoulas.
READ MOREHouseholds paying mortgages faster doesn’t mean they’re feeling the pinch
The Reserve Bank says there is a continued pattern of many households choosing to repay their mortgages more quickly than required.
READ MOREBank bashing: forget mortage holders, what about savers, renters and biz?
All this talk ignores the fact that many bank customers are hooked into banks for savings products and at the moment are getting a “good deal” from their term deposits which carry rates above where they should be
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Kohler: trouble in a carry trade paradise
Keynesian purists are all clutching their foreheads, but actually it’s pretty fabulous that Australia’s politicians are competing with each other to promise budget surpluses.
READ MOREFlat inflation — cue the ‘rate cut looms’ headline
A flat inflation result for the December quarter opens the way for a rate cut, yes, but watch Greece …
READ MOREIMF paper positive about Australian banking system
What is disappointing about the reporting of the IMF working paper is the absence of any critical view.
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Why the RBA should hold fire on rates
The local and international economies aren’t as bad as many claim, and the RBA should hold off on cutting rates.
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Bartholomeusz: banks rattle the rates cage
Having had a week to think about ANZ’s bold move to distance itself from future Reserve Bank rate decisions, two of its peers have passed up the opportunity provided by their AGMs this week to announce they would emulate it.
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Banks make huge savings thanks to cheaper local deposits
With the surge in domestic savings (running at 10%) and low demand for loans, banks have been able to build substantial deposit cushions, allowing further cuts in offshore borrowing.
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Kohler: the big four’s cloak-and-dagger dance
One of the more bizarre rituals of global finance is the Australian Monetary Policy Dance, where we all wait to see whether an adjustment to official interest rates is “passed on”.
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Media’s bank-bashing ritual? Bah, humbug
Whatever would we do without a round of bank bashing stories this time of year, when all other news content is reduced to How to Baste Your Turkey and Top Ten Top Tens of 2011…
READ MORECrikey says: a very long month in the global economy …
If a week is a long time in politics, then a month in economics is an eternity.
READ MOREEurope does matter
We can judge the Europeans severely for their many and varied faults of economic management, but for the sake of Australian jobs we can’t stand idly by while they drag the globe into recession.
READ MOREWill the Coalition launch an interest rate cut campaign?
Who wants to argue against an interest rate cut? Andrew Robb knew he was on safe ground when he suggested a cut on ABC radio, reports James Thomson.
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