Page 3 - May Statement News Today

MacroBusiness Access Subscriber Only Content The US dollar was soft last night as EUR rallied: The Australian dollar moved higher but is still caught in a large head and shoulders topping pattern, a downtrend versus EUR as JPY is breaking out: AUD is now clearly underperforming EMs: Gold flew as US real rates plunge negative, oil is stuck again: Copper is now a fully-fledged bubble: Big miners firmed: Remarkably, as US inflation fears roar, yields keep falling: Stocks loved that, though Nasdaq ...

2021-22 Australian Budget Preview By Gareth Aird, Head of Australian Economics at CBA Key Points: The 2021/22 Australian Budget is scheduled for release at 7.30pm (AEST) 11 May. The Budget bottom line will be greatly improved because of the much better performing economy and significantly higher commodity prices. Notwithstanding, more stimulus is expected to be announced, including an extension of the low and middle income tax offset (LMITO) as well as spending on child care, aged care, defence...

RBA announces May cash rate subscribe A A The central bank has revealed its cash rate decision for May ahead of the federal budget on 11 May. The Reserve Bank of Australia (RBA) has left the official cash rate unchanged at 0.10 per cent for May, aligning with its position of leaving rates unchanged for the foreseeable future. In his statement on the RBA’s decision, governor Dr Philip Lowe said that it has maintained its current policy settings, including the yield on the three-year Australian...

RBA meeting preview: no policy changes tipped, economic forecasts likely to be upgraded

MacroBusiness Access Subscriber Only Content Westpac with the note: The growth rate of the Leading Index continues to point to above trend growth in 2021. Westpac is forecasting growth of 4.5% in 2021 largely driven by the consumer who is expected to contribute three of those percentage points. The reopening of the economy; cashed up households; and an eleven year high in Consumer Sentiment all point to strong spending. The housing market is booming. Westpac expects dwelling price growth of 15%...

MacroBusiness Access Subscriber Only Content By Gareth Aird, head of Australian economics at CBA: Key Points The trimmed mean CPI on our forecasts will print at +0.6% (1.3%/yr). The inflation debate is expected to heat up over 2021 as the labour market continues to tighten and wages growth is forecast to gradually lift. Overview The Australian economic recovery has been swift and the labour market has tightened a lot. There is more to come. Our forecast is for the unemployment rate to continue ...

Business hails miracle rebound Share Business leaders have hailed the strength of the recovery of the Australian economy, describing the bounce back of jobs, which pushed the unemployment rate down to 5.6 per cent, as “miraculous”. Qantas and Virgin have not only retained workers but are starting to hire new people, while bank chief executives have given upbeat expectations on employment, house prices and the economy with few concerns about financial distress. More than 70,000 jobs were add...

May he made a statement nudging the house toward an impeachment inquiry. i would say yesterday he took a few steps back from that and mueller and democrats would have been wise to let that may statement be his last word. i would guess a majority of democrats today agree with that view. >> what do you think, kim, in terms of pelosis strategy to let this play out in the courts? that could be a while, right? >> its a non-strategy frankly. if it were to play out in the courts, we would have seen an ...