The RBA governor has consistently sought refuge in claims that wage pressures in Australia are building and justify the central bank rate hikes – 9 consecutive increases since May 2022. The RBA has chosen to seriously mislead the Australian public on this issue and when confronted with publicly-available data that justifies that conclusion they claim…
inflation
It’s Wednesday and a lot is going on. The RBA governor appeared before the Commonwealth Senate Estimates Committee today and demonstrated what a troglodyte he is, defending massive bank profits and deliberately trying to cause unemployment. Meanwhile, US data shows that inflation has peaked and is now falling. The pace of the deceleration is picking…
Today (January 25, 2023), the Australian Bureau of Statistics released the latest – Consumer Price Index, Australia – for the December-quarter 2022. It showed that the CPI rose 1.8 per cent in the quarter (down 0.1 point) and over the 12 months by 7.8 per cent (up 0.5 points). So, the annual inflation rate in…
Its been around 9 months since the central banks of the world (bar Japan) started to push up interest rates. This reflected a return to the dominant mainstream view that fiscal policy should aim to support monetary policy in its fight against inflation and thus be biased towards surpluses, while central banks manipulated interest rates…
So the IMF has come late to the transitory inflation party. What was obvious months ago is now at the forefront of IMF forecasts. Better late than never I suppose. It is becoming clear that most indicators are still not predicting a major demand-side collapse in most nations. Growth has moderated slightly and the forward…
‘It needs to be understood how governments have facilitated inequality in the world. Billionaires don’t happen naturally. The rules by which a country’s economy operates is controlled by governments. If …
The post Money for big business and war but not for the public good appeared first on The Gower Initiative for Modern Money Studies.
So the IMF has come late to the transitory inflation party. What was obvious months ago is now at the forefront of IMF forecasts. Better late than never I suppose. It is becoming clear that most indicators are still not…
