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If former Reserve Bank governor Philip Lowe will never live down his notorious statement that we shouldn’t expect interest rates to rise until 2024, what to make of his successor, Michele Bullock, and the RBA board, and their extraordinary statement yesterday trying to explain why, despite clobbering the economy into a coma, they’re not prepared […]
Over the last 80 years, the U.S. dollar has become the lingua franca of the global financial system. From Europe to Australia, central banks, companies, manufacturers, and tourists find common language by using the American currency. Today, an estimated $6.6 trillion in daily global transactions involve the dollar. The centrality of the U.S. dollar to […]
Australian Bureau of Statistics’ data sets show GDP at odds with labour force statistics — which makes no economic sense, writes Stephen Koukoulas. SOMETHING is not quite right with the data on the Australian economy. Never before has annual real gross domestic product (GDP) growth of 1.0 per cent – building on 18 months of economic sluggishness – been accompanied by booming […]
The State Bank of Pakistan (SBP) reduced its policy rate by 200 basis points to 17.5% on Thursday, as headline and core inflation saw a sharper-than-expected decline over the last two months. The rate cut will be effective from September 13, 2024. The Monetary Policy Committee (MPC) of the SBP attributed this decision to falling […]