Goldman Sachs says El Nino could force RBA to cut interest rates
19 Oct 2015
A severe drought from an intense El Nino weather pattern may drag Australia’s growth below 2 per cent and force the Reserve Bank of Australia to cut interest rates, Goldman Sachs says. Australian policy makers are anticipating flat farm production in 2015-16, but have not factored in a drought. The Bureau of Meteorology has forecast a “significant shift” towards a drier and […]
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Australians are losing confidence in the economy
18 Oct 2015
For those of us who aren’t watching the sharemarket religiously or flipping through capital city median house prices on a daily basis, it might be easy to assume that the economy is bubbling away quite nicely. However, new analysis suggests Australians are quietly preparing for the worst. The study by finder.com.au compares APRA data of owner-occupied […]
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Interest cut on cards after Westpac increase
15 Oct 2015
An emergency cut in official interest rates may be needed to protect the economy after Westpac revealed it would drive up its mortgage rates despite posting a near $8 billion profit. In a surprise move that the bank claimed yesterday was needed to comply with new regulations aimed at safeguarding the Australian financial system, Westpac […]
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RBA’s Philip Lowe has four-point plan to stop ‘chronic pessimism’
13 Oct 2015
Reserve Bank of Australia deputy governor Philip Lowe has backed the Productivity Commission’s call to boost the flexibility of the industrial relations system while fixing what he described as unequal bargaining positions in some parts of the labour market. Warning against allowing the current national “soul searching” about the post-resources future from mutating “into chronic […]
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