Yesterday
- Opinion
- Interest rates
Reserve Bank has finally taken the inflation crisis seriously
The consumer price index reading gave the RBA an out. Instead, governor Michele Bullock’s tough talk dumped cold water on a rate cut any time soon.
June
- Opinion
- Energy transition
Nuclear is unviable because of economics, not engineering
Even if all that mattered was the cheapest possible energy that meets minimum levels of reliability and emissions, the Coalition’s plan fails.
- Opinion
- Inflation
Jim Chalmers is a doctor of spin, not economics
The treasurer has talked down the economy to defend the expansionary nature of his budget decisions when what we need now, more than ever, is straight talking.
- Opinion
- Inflation
Reserve Bank must restore credibility and not buy into energy rebate trickery
A year out from an election and amid Labor’s overhaul of the institution, a temporary mechanical reduction in the CPI has the potential to interfere with the RBA’s independent conduct of monetary policy.
May
- Opinion
- Australian economy
Why you can’t argue the $300 energy rebate will lower inflation
Energy bill relief increases real disposable income and boosts aggregate demand. We can debate how far they push inflation, but not that the direction is up.
- Opinion
- Federal budget
This is the most irresponsible budget in recent memory
The government set itself a simple standard: not to make the Reserve Bank’s job harder. Michele Bullock may just choke on her cornflakes.
- Updated
- Opinion
- Federal budget
Governor and treasurer share blame for sticky inflation
Michele Bullock and Jim Chalmers had fair warning about the need for decisive action.
April
- Opinion
- Tax reform
Negative gearing is not a rort or a tax concession
Negative gearing is said to single-handedly be responsible for Australia’s housing crisis. But it is a principled, fair and efficient feature of any tax system.
July 2023
- Opinion
- Monetary policy
Bullock’s crucial role will be renovating a national institution
The new Reserve Bank of Australia governor’s job is not to be the smartest economist in the room. It’s to recruit those who are.
June 2023
- Opinion
- Interest rates
Chalmers can’t keep passing the buck on inflation
Energy subsidies are not disinflationary. The budget is expansionary. And the wages lever the government is pulling will also make the RBA’s job harder.
May 2023
- Opinion
- Federal budget
Why this is the most confounding budget of recent times
How well did Jim Chalmers do on Tuesday night? A whole lot better than he could have. And a whole lot worse, too.
- Opinion
- Federal budget
Chalmers can’t have his inflation cake and eat it too
To see through the Treasurer’s subterfuge, simply ask yourself: will the cost of living measures put money into people’s pockets or remove it from them?
April 2023
- Opinion
- Monetary policy
Philip Lowe’s emperor-has-no-clothes moment
The governor’s news conference on the Reserve Bank of Australia review was an unedifying performance for a public servant.
- Opinion
- RBA
Is the RBA a dove or a chicken?
Governor Phil Lowe cannot decry the evils of inflation while being prepared to engineer above-target levels of it for years. He needs to explain.
March 2023
- Opinion
- JobKeeper
JobKeeper was a big call to make. They got it right
Scott Morrison and Josh Frydenberg announced JobKeeper three years ago today. For all its flaws, it produced one of the world’s most durable recoveries.
November 2022
- Opinion
- Monetary policy
‘Sorry you listened’ isn’t good enough, Dr Lowe
The most important tool of a central bank is its independence of action, which has to be earned through credibility. Over time, cracks in it can start to grow.
- Opinion
- Monetary policy
Lowe should watch Powell to learn how to restore credibility
Let’s hope the RBA governor was taking notes during Friday’s masterclass in monetary strategy and communications by the US Fed chairman.
October 2022
- Opinion
- Federal budget
Chalmers delivers the weakest fiscal strategy of recent times
This Treasurer has no budget goals, no rules to discipline himself, and counts not blowing a windfall as a tough decision.
September 2022
- Opinion
- Federal budget
UK is Australia’s dark alternative future
Jim Chalmers should treat the mother country’s mini-budget as a kind of dress rehearsal for how things could go here with some bad luck and three or four too many colossal policy blunders.
- Opinion
- Jobs summit
Gabfest with no economic plan is easy to be cynical about
Now it’s all said and done, the government needs to get to work on actually fixing the country’s problems.
