US GDP data points to a US rate rise in December, and Australia’s housing affordability problem won’t be helped by current declining building approvals.
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.
Lukas Coch/AAP
All in all this was a fairly positive week for global economies.
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.
Reuters/Jonathan Crosby
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.
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Worse than expected business investment in both manufacturing and mining provides another nod towards secular stagnation.
Business Council of Australia President Catherine Livingstone and Commonwealth Bank CEO Ian Narev will have to wait for the company tax cut they’ve been asking for.
Dan Himbrechts/AAP