GDP numbers in Australia look good, but when one looks one level below, the picture isn’t so good.
Image sourced from shutterstock.com
The RBA leaves rates on hold, Australia gets a GDP growth spurt from pre-election spending, and the IMF lays the groundwork for a lowering of global growth expectations.
Guy Debelle is preparing to become Deputy Governor of the RBA.
All in all this was a fairly positive week for global economies.
The world changed dramatically after the 2008 financial crisis and central banks are adjusting.
The 2008 financial crisis exposed major gaps in central banks' operations. New features like quantitative easing have since emerged.
When attendees at the annual Jackson Hole symposium get a chance to chat, they might muse about central banks targeting nominal GDP instead of inflation.
Central banks around the world are struggling with the failure of low (or negative) interest rates to breathe life back into ailing economies.
Some heavy hitters think it’s time the RBA’s role shifted a little.
Independent Senator Nick Xenophon wants the RBA to focus on economic growth, and he's not alone.
The FTSE rebounded after its Brexit shock – but how long will it last?
Outgoing Reserve Bank of Australia Governor Glenn Stevens makes his last public speech as head of the RBA.
The challenges ahead for Australia include sustaining a stronger growth outlook.
Lower interest rates will only have the stimulatory effect required if they are passed on to borrowers.
Here come the cavalry?
The Bank of England has cut interest rates to a historic low of 0.25% and is injecting further rounds of quantitative easing.
Malcolm Turnbull announced the banks would now be regularly accountable to the parliament.
Malcolm Turnbull has announced that the heads of Australia's big four banks will be grilled annually by the House of Representatives economics committee.
Waiting for Superman.
Britain's central bank governor Mark Carney is like a prize fighter throwing his last, limp punches.
After the Reserve Bank cut the cash rate by 25 basis points to 1.5%, the four big banks said they would pass on only part of the reduction.
Malcolm Turnbull has sternly told the banks they should pass on the whole of Tuesday's rate cut - or their chief executives must explain why they are not doing so.
The RBA has cut rates to try and stimulate inflation and growth.
Economists are divided on whether the latest interest rate cut to 1.5% was needed, as the RBA tries to boost inflation and growth.
With Australia cutting and the US raising rates the Australian dollar looks likely to fall.
All economic data is pointing to disappointing global growth.
The good news is the post-Brexit market movements in high-yielding currencies have been relatively benign.
China will not be able to rescue Australia if another crisis hits.
Incoming RBA governor Philip Lowe
Incoming Reserve Bank governor Philip Lowe will face the challenges of rapid credit and asset prices growth.
Global uncertainties are unlikely to be resolved for some time.
The US has held off on raising rates, as the world waits to see which way the Brexit vote will go.
US Fed Chair Janet Yellen is worried about the slowdown in job creation.
Vital Signs is a weekly economic wrap from UNSW economics professor and Harvard PhD Richard Holden (@profholden). Vital Signs aims to contextualise weekly economic events and cut through the noise of the…
Sorry, but the glass is half empty.
Image sourced from shutterstock.com
GDP growth that doesn't translate into income is no cause for celebration.
Manufacturing makes for good photo ops, but spending by Australian companies is no cause for celebration.
Worse than expected business investment in both manufacturing and mining provides another nod towards secular stagnation.