Category: Opinion
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Alan Kohler: Possibly the NAIRU is 3.5 per cent
Australia’s unemployment price fell to three.5 per cent in June 2022 and has roughly stayed there for 12 months. Inflation has not risen, however declined. Within the June quarter of 2022, the Client Worth Index (CPI) elevated 1.8 per cent; on Wednesday we learnt that within the June quarter of this yr it rose 0.8…
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Paul Bongiorno: Our worldwide repute isn’t a vote winner
The furore created by Victorian Premier Daniel Andrew’s cancelling of the Commonwealth Video games would have you ever consider that Australians might give two hoots over the nation’s worldwide repute. The very fact is any variety of elections over time have firmly established {that a} majority of us are extraordinarily selective about what strikes us…
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Michael Pascoe: There have been Robodebt winners, however others are nonetheless dropping
Robodebt collections have resumed below the Labor authorities, which comes as a little bit of a shock given the deserved outrage concerning the scheme. No, not new circumstances of unlawful ATO revenue averaging, however the authorities is pursuing folks bullied into agreeing to make funds after being informed interesting the Robodebt course of could be…
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Alan Kohler: RBA’s in-house agent of change Michele Bullock has been set as much as succeed
Philip Lowe was successfully sacked as Reserve Financial institution governor for trigger, however paradoxically his legacy might be among the many greatest within the RBA’s historical past. What was the trigger? There have been three: First, his mistake, for which he apologised, in saying the 0.1 per cent money charge wouldn’t change till 2024; second,…
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Michael Pascoe: Robodebt tradition lives on underneath Labor
Confession – I’m responsible of the journalistic crime of burying the lede final week. As a substitute of the RBA flogging a useless horse, I ought to have led with: A 1°C rise in temperature throughout El Nino lifts international meals costs by greater than 6 per cent after one 12 months, based on European Central…
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The Stats Man: The RBA is combating inflation in addition to demographics
Because it’s mentioned daily within the information, I figured this week we expect via the demographics of rising rates of interest. Keep in mind that this can be purely the demographic perspective and that this column can’t probably do justice to the subject. Let’s lead with the primary takeaway. The Reserve Financial institution of Australia…
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Michael Pascoe: Lazy or loyal? Name it what you’ll, it’s nonetheless costly
I believe I conceived the time period “lazy tax”. If not, I used to be there at its delivery – the additional billions shoppers pay because the penalty for not purchasing round on the subject of mortgages, power, insurance coverage and anything they need to pay. Some folks discovered the time period insulting, thus “loyalty…
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Michael Pascoe: RBA wants a Window Cleaners Index
Reserve Financial institution mandarins love liaison, however I worry they’re doing it with the unsuitable form of individuals. Liaising, particularly “enterprise liaison”, is meant to be the financial institution’s manner of staying in contact with what is going on in the actual world – versus the RBA’s most important supply of knowledge: Statistics indicating what…
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Alan Kohler: Crises that weren’t, aren’t and by no means will probably be, plus one that actually is heating up
For 18 months our hair has commonly been set alight by panics which have didn’t dwell as much as their early promise. When Russia invaded Ukraine on February 24, 2022, there was a world panic about vitality and meals costs (to which your correspondent contributed enthusiastically, twice). However after an preliminary spike, the costs of…