inflation
RBA Meeting Minutes March 2013 – Construction Activity
The RBA’s March 2013 meeting minutes were issued today and with respect to the property market, the minutes stated “non-residential building approvals remained low and office vacancy rates had risen over recent quarters, reflecting softening demand for office space.” Members also observed that “dwelling construction activity had picked up further in the December quarter. Forward-looking indicators…
Read MoreRBA December 2012 Meeting Minutes point to subdued investment and labour market
The minutes for the December 4 Board meeting give three key reasons why the Board decided to reduce the cash rate by a further 25bps.
Read MoreRBA leave the cash rate at 3.25%
At its November board meeting today, the Reserve Bank decided to hold the cash rate steady at 3.25%. “Further effects of actions already taken to ease monetary policy can be expected over time. The Board will continue to monitor those effects, together with information about the various other factors affecting the outlook for growth and…
Read MoreMay RBA Minutes point to weakness in housing market
May’s RBA board meeting minutes outline the rationale behind their 50bp reduction of the cash rate. The minutes note that the domestic economy had been growing at a modest rate in early 2012 however, the activity varied across industries. The mining sector remains strong with a number of large projects underway and on the drawing board.…
Read MoreRBA May Board Meeting – Rates cut by 50 basis points
At its meeting today, the Board decided to lower the cash rate by 50 basis points to 3.75 per cent, with a low inflation print and decreasing growth forecasts. The minutes point to expectations of lower inflation;
Read MoreRBA April Meeting – Cash Rate Left on Hold
In the Reserve Bank’s April board meeting today, the cash rate was left on hold at 4.25%. This was in line with economists’ expectations, but there is growing support for an easing in the cash rate based on recent data such as poor dwelling starts and retail sales.The board pointed to a potential downward movement,…
Read MoreRBA February 2012 Board Meeting Minutes
Much to the surprise of most economists, the RBA kept the cash rate steady in February. Information available since the December meeting confirmed that economic conditions in Europe were weakening late last year, with significant downside risks. In line with this, most forecasters have lowered their forecasts for world GDP growth this year to a below trend…
Read MoreRBA Commentary on the Investment Boom in the Resources Sector
In his speech today to the Committee for Economic Development of Australia, RBA Deputy Governor Philip Lowe gave some interesting commentary on recent developments within the Australian economy. Specifically interesting were his comments regarding the indirect effects of the investment boom in the resource sector:
Read MoreThe Cappuccino Price Index – A Year in Review 2011
For the uninitiated, the Cappuccino Price Index (CPI) monitors the price of espresso coffee in Australia. In their own words “Cutting through the noise of oil prices, inflationary trends, exchange rates, and The All Ords we talk about what really matters – the price of the cup of coffee.” It’s an interesting niche way to…
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