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Aussie Reserve Bank, Considering “Extreme Measures”, Admits “We’re Almost Out Of Ammo”
Aussie Reserve Bank, Considering “Extreme Measures”, Admits “We’re Almost Out Of Ammo” At least one reserve bank globally is starting to ponder the question that many central banks across the world will soon inevitably be asking: what happens if we cut to zero and the economy continues to falter? This has led Australia to start considering QE, […]
Australia Lowers Rate to Historic Low of 1%
Australia Lowers Rate to Historic Low of 1% The Reserve Bank of Australia has cut the official cash rate for the second month in a row to 1%. As we head into the turning point of the Economic Confidence Model come January 2020, the unemployment rate increased to 5.2% in April. GDP growth remains very […]
Australia’s Economy Is A House Of Cards, Set For Sharp Downturn In 2019
Australia’s Economy Is A House Of Cards, Set For Sharp Downturn In 2019 Damien Boey, a research analyst at Credit Suisse, has warned that economic growth in Australia could slow quite sharply next year, raising the prospect that a slowdown could be immient. Boey expects the recent growth spurt driven by strong infrastructure investment, could fade in the first […]
Australians Face Huge Spike in Repayments as Interest-Only Home Loans Expire
Australians Face Huge Spike in Repayments as Interest-Only Home Loans Expire Day of Reckoning: Hundreds of thousands of interest-only loan terms expire each year for the next few years. The Reserve Bank of Australia (RBA), Australia’s central bank, warns of a $7000 Spike in Loan Repayments as interest-only term periods expire. Every year for […]
The Inconvenient Truth of Consumer Debt
The Inconvenient Truth of Consumer Debt It’s acceptable to build infinitely high levels of household debt — as long as rates never rise. Ready for a rainy day?Photographer: Anoek De Groot/AFP/Getty Images Oh, but for the days the hawks had a hero in Sydney. Against the backdrop of a de facto currency war, the Reserve […]
Australian Housing Illusion Set to Burst
Australian Housing Illusion Set to Burst Possibly driving an already weak economy into recession. Every day, we have investment banks and others telling us that the Australian housing party is over. Estimates for price declines over the next year or so vary from 7.5% to a plunge of 25%. Even the Reserve Bank of Australia […]
Australia’s “Black Swan Moment”
Australia’s “Black Swan Moment” Wayne Swan, Treasurer of Australia from 2007 to 2013, Deputy Prime Minister and the Deputy Leader of the Labor Party from 2010 to 2013, who thought he saved the Australian economy but just delayed the inevitable, is now blaming everyone but himself for the downward spiral: Image source: Twitter As I argued in my […]
How Much Longer Can Central Banks Push Bonds to Absurdity?
How Much Longer Can Central Banks Push Bonds to Absurdity? Central banks around the world have fallen all over each other lowering their benchmark interest rates. On Tuesday, the Reserve Bank of Australia was the latest, cutting its cash rate to an all-time low of 2.25%. It didn’t mince words: “A lower exchange rate is […]
Australian dollar skids to six-year low after RBA shock
Australian dollar skids to six-year low after RBA shock (Reuters) – The Australian and New Zealand dollars weakened further in early trade in Europe on Tuesday after a sell-off following the Reserve Bank of Australia’s surprise decision to cut interest rates. The outlook for both Antipodean currencies has worsened in recent weeks with concerns about growth generating […]
Australian dollar plunges as rate cut bets rise, commodity prices sink
Australian dollar plunges as rate cut bets rise, commodity prices sink The Australian dollar plunged again overnight, as falling commodity prices dragged it to a fresh five-and-a-half-year low. The local currency fell as low as 77.17 US cents, as a combination of strong US data boosting the greenback and falling commodity prices hurting resources exporters, […]
