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Recession or not, the latest lockdowns will end RBA's hope to boost wages


How quickly the sunny days of economic recovery can turn cloudy ominous, even.
The Prime Minister is now assuring us we’re going to dodge a recession that as of last week no one had even thought was possible. This morning Josh Frydenberg suggested that growth and employment will take a hit in the current quarter thanks to Sydney, Melbourne and Adelaide being in lockdown. We shouldn’t forget that we saw a bigger than expected 1.8% slide in retail sales in June, thanks to the earlier Victorian lockdown and the lockdown that started in NSW near the end of the month. That will have a small impact on growth in the June quarter too. ....

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ASX Update: Market cheers 'low rates for longer'


ASX Update: Market cheers ‘low rates for longer’
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Shares surged and the dollar dropped after unexpectedly mild inflation data doused fears the Reserve Bank might raise the cash rate ahead of previous guidance.
The
S&P/ASX 200 jumped more than 20 points after the data drop, boosting cautious early gains to a mid-session tally of 29 points or 0.41 per cent. The
dollar dived around three-tenths of a cent to 77.37 US cents.
What s driving the market
Worries about
inflation were blown away by weaker-than-expected quarterly data. The consumer price index rose a tepid 0.6 per cent over the first three months of the year. Annual growth was 1.1 per cent, well short of the Reserve Bank s 2 - 3 per cent target range. The bank has previously said it would need to see inflation hold sustainably within that range before it will consider raising rates. Underlying inflation increased 0.3 per cent for t ....

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ASX Close: Meek inflation fuels strong finish - The Market Herald


ASX Close: Meek inflation fuels strong finish
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The prospect of record-low rates for at least another two to three years propelled the ASX to its strongest close in more than a week.
The
S&P/ASX 200 rallied 32 points or 0.45 per cent to its best finish since last Monday s pandemic-era closing high. The index fell short of a new 14-month closing peak by less than a point.
Gains for CSL, Coles and the banks outbalanced declines in Woolworths and the major miners.
What moved the market
The share market jumped more than 20 points and the dollar dived around a third of a cent when this week s most important economic report showed underlying ....

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