America’s central bank has cut US interest rates by half a percentage point. The move amps up the pressure on the Reserve Bank to cut rates in Australia.
The Reserve Bank has ruled out creating its own digital currency,partly over fears it could undermine the nation’s entire banking system.
From a bitter political fight on rates to inflationary haircuts,Bullock’s term as Reserve Bank governor is unlikely to get easier.
Even as they seek to protect the gullible from misfortune,central bankers and governments leave us with a warning:watch your own back.
With annual inflation easing in the US,financial markets have priced in a 25 basis point cut to the cash rate at the Fed’s next meeting this week – the last before the November presidential election.
Shemara Wikramanayake says Australian inflation is six months behind countries where rates have already been cut,but the economy is stronger in other areas.
The RBA has a job to do,but let’s never forget it’s a bunch of unelected people wielding what amount to extraordinary powers. It’s not infallible,and it should not be verboten for an elected parliamentarian to note the effects of the RBA’s choices.
Jobs market is still strong but is starting to slow,says the Reserve Bank. But rather than a big jump in unemployment,the bank thinks hours will be cut.
After months of talks,the Coalition has walked away from a key change to the Reserve Bank. But the treasurer may win support from the Greens.
There is no sign the treasurer has helped the government or himself with his statement that higher rates were “smashing” the economy.
A slim majority - 51 per cent of voters - say the government has the greatest role in halting the pressure on prices.