A strong economy will allow Kevin Rudd again to campaign as a fiscal conservative, as well as the messiah who protected Australia from world depression, correction, severe downturn, writes Henry Thornton.
RBA
RBA lifts rates, declares GFC dead
The Reserve Bank has lifted interest rates by 25 basis points to 3.50%. Get set for a slew of increases as Glenn Stevens lets the good times roll.
Blame the states when RBA lifts rates
When the Reserve Bank lifts interest rates next Tuesday and again either in December or February, you can thank the lazy, fat, rapacious State Governments.
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.
How the RBA makes its interest rate decisions
A fascinating (if you’re that way inclined) inside look at how the Reserve Bank makes its decisions, from the people sitting around the board room table, to the “small army of analysts and economists” providing the intel.
RBA: “possibly imprudent” not to lift rates
The Reserve Bank lifted interest rates because it might have been “possibly imprudent” not to do so — quite a telling phrase for such a conservative organisation.
Farr: Glenn Stevens — the breakaway star of Australian finance
The rising star of “celebrity central banker” Glenn Stevens is overshadowing Treasurer Wayne Swan — the guy who’s supposed to be the authoritative voice on the nation’s economy. So who should voters listen to? asks Malcolm Farr.
Interest rates: the difference between reality and chatter
Amid the media chatter today about what the interest rate rise means for the “stimulus debate”, news from the real world is that the majority of Australians reckon the government is handling the economy very well.
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.
Did RBA jump the gun?
Was the RBA’s decision to end the cutting cycle and raise rates to 3.25% a step too far? Australia’s leading economists weigh-in.
Stutchbury: Why Swan doesn’t want your applause
Wayne Swan should be lapping-up the news heralded by the RBA rate hike that the economy is back on track, says Michael Stutchbury. But the rest of the world’s finance ministers are still battling recession, and Swan would rather fit in with the cool crowd.
Colebatch: Good news for the economy (if not your mortgage)
Many Australians have become too used to artificially low interest rates and government gifts to see that the RBA’s rate hike is actually good news for the economy.
Making a bad situation worse
The RBA may have hiked up interest rates on the belief that the economy is returning to normal — but its view of “normal” is out of whack, says Debtwatch. Perhaps it’s time to take control of Australia’s monetary policy out of the RBA’s hands?
How the RBA stole Christmas
The RBA raised interest rates to 3.25%, and business isn’t happy, despite indications the economy is back on track. With Christmas just around the corner, will the hike put a damper on consumer spending splurges?
Trade figures reveal impact of the rising Aussie dollar
The August trade figures reveal the impact of the sharp rise in the value of the Aussie dollar, especially against the US currency, which has helped drive down the value of imports and export returns.
Interest rates: the local waitress put in her two bob’s worth
The house price gravy train has arrived again at the station, and off we go towards higher interest rates and a greater lack of social equity.
Swan: Budget deficit $5 billion lower than expected
Treasurer Wayne Swan says that Australia’s underlying cash deficit is $27.1 billion, which is significantly lower than the $32.9 billion blowout forecast in May. As Peter Martin explained recently, the RBA’s currency windfall has been a big help.
Rudd’s stimulus gets RBA tick of approval
So, which bright spark in the Coalition thought it was a good idea to support Bob Brown’s inquiry into the Government’s stimulus packages?
Glenn Stevens alert but not alarmed
The RBA Governor basically reckons the economy is in good shape, the banks are fine, and rates will rise when we think the economy is good and ready.
RBA gets ready to jack up rates
It’s now clear the Reserve Bank’s priorities have shifted from the health and strength of the financial system, towards the first rate rise to come.
Political economy: happy Christmas Australia!
Yesterday, there were two important pieces of economic news that were overshadowed by the Telstra story. The release of the Reserve Bank’s board meeting notes — and the margin creep of the banks.
Political economy: employment data spread cheer
Weekend news had US unemployment rising to 10.7 %, but the better news is that the rate of job loss continues to fall, writes Henry Thornton.
The economic conservative pulls it off
Before the wind-back-the-stimulus debate gets too wound up, notice that most of the 0.6% in GDP growth is derived from the stimulus package.
Political economy: RBA sits easy
Australia’s central bank decided, in line with most expectations, to stay with its “emergency” low interest rates yesterday. What next?
