Judo Bank Economic Advisor Warren Hogan says he fears the Reserve Bank of Australia is continuing to make “bad errors”.
Judo Bank Economic Advisor Warren Hogan says he fears the Reserve Bank of Australia is continuing to make “bad errors”.Mr Hogan said this month’s pause on interest rate hikes was as much “optics” as anything.
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RBA economic forecast ‘even weaker’ than IMF suggestsSky News Business Editor Ross Greenwood says the International Monetary Fund predicts an economic slowdown for Australia’s economy but the RBA suggests an “even weaker” series of events. “The forecast for the global economy is going to slow down quite dramatically, particularly in the United States and in the advances economies but the rest of the world is going to be pretty strong,” Mr Greenwood said. “The outlook is for Australia’s economy to slow … this is no surprise, Australia’s economy has always been expected to slow later this year in particular as the 10 interest rate rises the Reserve Bank handed out catch up. “The International Monetary Fund … forecast, 2022, 3.7 per cent going to 2023 this year, 1.6 per cent and then 1.7 per cent, so you can see that slowing of Australia’s economy ... the Reserve Bank … over the course of the next two years they’re saying Australia’s economy could be even weaker than the International Monetary Fund suggests.”
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RBA board members confess to “terrible” handling of post-pandemic economyReserve Bank of Australia (RBA) board members admitted to doing a 'terrible' job in the wake of the COVID-19 pandemic during a recent panel discussion in Melbourne. Board member Ian Harper acknowledged that in hindsight, the bank's handling of the situation was far from ideal, as they struggled to stabilise the Australian economy and maintain inflation rates within the target range of 2-3 per cent. Deputy RBA Governor Michelle Bullock added that the messaging from the bank has been 'garbled' at times, further contributing to the difficulties faced during the crisis.
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RBA rate pause sends consumer confidence soaringThe conditions for running a business remain healthy after the Reserve Bank of Australia’s decision to pause interest rate hikes sent consumer confidence levels soaring.
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RBA confesses shortcomings in curbing post-pandemic inflationReserve Bank of Australia officials conceded their messaging had been 'ineffective' - after looking back with the benefit of hindsight on how they tried to balance financial stability and inflation.
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Live: Federal Reserve expects mild recession in US, US inflation slightly higher, Wall Street fallsUS stocks fall as Federal Reserve warns the banking crisis could spur a recession and inflation rises again. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
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IMF’s economic forecast for Australia is ‘no surprise’: Ross GreenwoodSky News Business Editor Ross Greenwood says there should be “no surprise” with the International Monetary Fund’s economic forecast for Australia. He said the Reserve Bank of Australia is more “pessimistic” than the IMF. “Jim Chalmers keeps talking and he’s now gone off to the International Monetary Fund and the leaders of the Western world, the finance ministers, to talk about this,” he told Sky News host Cory Bernardi. “Then he sets the budget when he comes back – that’s going to be the interesting side of it when he comes back.”
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