Ancestors

Toot

Written by RaymondPierreL3 on 2025-01-29 at 05:34

Greg Jericho explains: the #RBA now has no excuse, it must lower the #CashRate at its next meeting.

“Not only are the annual inflation figures showing prices are rising at the pace the RBA aims for – within 2% and 3% – but the December quarter itself had prices growing slower than that associated with 2% annual inflation.”

[#]aupol

https://www.theguardian.com/business/grogonomics/2025/jan/29/rba-interest-rates-decision-australia-inflation?

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Descendants

Written by RaymondPierreL3 on 2025-01-29 at 05:38

My fave lines from the article:

“Never again should we swallow the lie that only the Reserve Bank can tackle inflation. We also should never again listen to those economists who seem to desire other people (it is never themselves) to be unemployed in order to apparently cause inflation to fall.”

It’s time mainstream economist ditched the neoliberal lies.

[#]Economics #RBA #Unemployment #Inflation #auspol

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Written by Citizen ❎️❎️ on 2025-01-29 at 08:06

@RaymondPierreL3

Maybe... but will the RBA take notice while unemployment is still lower than they would like?

[#]AusPol #EconomyAu #economy

https://www.abc.net.au/news/2025-01-27/rba-rate-cut-in-february-will-not-happen-unemployment/104860912

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Written by RaymondPierreL3 on 2025-01-29 at 09:22

@AnnonBudgie

The #neoliberal economic idea that #unemployment is somehow the causative agent driving #inflation has been debunked by empirical data a long time ago (not to mention record corporate profits). In any case as The article points out, wage growth lags inflation by about 5% so there is no ‘driver’ there. If anything, microeconomic activity (govt finance) is what has driven inflation down to date (also mentionned in the article). If the #RBA dunces still hold off from lowering the #CashRate in February, it will be the final proof we need to demonstrate the need for radical changes in the board appointments.

I am not schooled in economics so those that are might disagree with my reading of the tea leaves, but they will need to be on point and provide historical evidence to convince me otherwise.

[#]auspol

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Written by Citizen ❎️❎️ on 2025-01-29 at 09:30

@RaymondPierreL3 the problem may well be that the RBA subscribe to an ideology that has been found to have flaws.

I'm not getting my hopes up 😣

[#]AusPol

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