Rather than offering early access to super, the government could allow people to borrow against it, at a zero interest rate.
After the Reserve Bank cuts its cash rate to effective zero, it’s considering something similar for other rates.
The Reserve Bank has scheduled an announcement for Thursday. The government will unveil a second coronavirus stimulus package within days.
Never has a virus featured so prominently in a Reserve Bank statement.
With skill and support where needed, the government can get us through this, but it’ll be the biggest challenge since the global financial crisis.
Modern Monetary Theory allows governments more freedom to run deficits, freedom the Australian government might need.
In a speech broadcast live on the Reserve Bank website, the governor explained how quantitative easing would work. He won’t try it until the cash rate hits 0.25%.
MARTIN stands for “Macroeconomic Relationships for Targeting Inflation”. The bank’s new computer model says there’s much it can do to boost the economy after its cash rate hits zero.
Central banks are increasingly taking into account climate change in deciding how to invest.
Treasury Secretary Steven Kennedy says its up to the Reserve Bank to boost the economy. In normal times, that’s not his job.
Evidence for the prime minister’s contention that the banks are “profiteering” is thin on the ground.
Record low interest rates will almost certainly drive up property prices. But they will also drive down unemployment and boost investment generally.
If needed, Governor Lowe will cut rates to near zero, and then effectivly cut them further.
Australia is becoming more like the United States. Increasingly, we invest overseas. Our domestic economy is weak.
With a relatively low debt to GDP ratio, Australia was never at risk of becoming Greece. But Germany, with negative interest rates and scant prospects for economic growth, is an open question.
The Reserve Bank’s best case scenario is that its forecasts are wrong.
Australia has more to fear than most countries from a global trade and currency war. All eyes will be on the Reserve Bank governor Friday as he attempts to outline what might happen.
A bold government would have delivered stages one, two and three of the tax cuts at once. Boldness is what we need.
Donald Trump has had four of his nominations for the US Federal Reserve rejected. Now he has another two.
Philip Lowe is on the cusp of permanently changing Australia. He stands a good chance of being one of the best governors since the first, who ushered in the goal of full employment.