It’s all but certain: rates will rise next week. One Nation polling numbers about to surge even further.
stupid_mistake__101 on
So when interest rates get cut, Jim Chalmers’ socials make a song and dance about it including claiming credit for it. Will he do the same if rates rise next week?
jimmythemini on
They need to go with a 0.5 point rise next week. They’re at serious risk of letting inflation get away from them.
Grande_Choice on
Meh, electricity was always going to jump with the subsidies rolling off. Shouldn’t be a shock to anyone. Excluding subsidies it hasn’t actually increased much since June 23 only increasing 3 points.
Housing 5.5% makes sense, Education 5%, public schools an option. The buckets that people touch are all trending below the CPI rate. So it’s mainly distorted by the energy rebates. I’ll be interested to see what the hundreds of thousands of new home batteries being installed do to the electricity measure moving forward.
DefinitionOfAsleep on
>“On the basis of budget analysis by the Opposition, the projected deficit from 2029-30 through 2035-36 has blown out by close to $60 billion. The analysis was independently verified by highly respected independent budget economist Chris Richardson.
Isn’t that way outside forward estimates?
GravityStrike on
Catastrophic numbers for Labor yet again. This is surely the worst economic performance from any government in living memory.
Housing, jobs, industrial relations. They’ve got everything wrong and we now continue with the worst economic performance in the OECD.
US inflation is currently at 2.6% and their latest GDP forecast is for a 5.4% annualized growth rate.
For comparison Australia with near record levels of immigration (boosts gdp) has a growth rate of 2.1%. A massive per capita recession.
Yay
TappingOnTheWall on
At least fascists and authoritarians Capitalise on crisis to induce and create systemic change (in their favour). Where as the centrist “left” of establishment capitalism, will fight *tooth and nail* to get back to a broken and crappy system we didn’t like before.
This is the “progressive” promise of the Labor establishment: A Capitalism at least as good at what we had under Scott Morrison.
What’s a leftist to do but vote way further left than Labor.
dleifreganad on
The news goes from bad to worse for households. Not only are the prices of essentials like food and shelter rising but the answer to stop these inflationary pressures is to raise the cost of another essential – mortgage repayments.
This terrible CPI print not only guarantees a rate rise next week but it increases the odds of another one following it soon after.
bundy554 on
The funniest thing is going to be how much our economy is going to be hit when the US lowers interest rates when the new US fed chairman takes over – it will be a double whammy. High inflation, high interest rates and investment being taken out of this country – perhaps even a triple whammy you could describe.
9 Comments
It’s all but certain: rates will rise next week. One Nation polling numbers about to surge even further.
So when interest rates get cut, Jim Chalmers’ socials make a song and dance about it including claiming credit for it. Will he do the same if rates rise next week?
They need to go with a 0.5 point rise next week. They’re at serious risk of letting inflation get away from them.
Meh, electricity was always going to jump with the subsidies rolling off. Shouldn’t be a shock to anyone. Excluding subsidies it hasn’t actually increased much since June 23 only increasing 3 points.
Housing 5.5% makes sense, Education 5%, public schools an option. The buckets that people touch are all trending below the CPI rate. So it’s mainly distorted by the energy rebates. I’ll be interested to see what the hundreds of thousands of new home batteries being installed do to the electricity measure moving forward.
>“On the basis of budget analysis by the Opposition, the projected deficit from 2029-30 through 2035-36 has blown out by close to $60 billion. The analysis was independently verified by highly respected independent budget economist Chris Richardson.
Isn’t that way outside forward estimates?
Catastrophic numbers for Labor yet again. This is surely the worst economic performance from any government in living memory.
Housing, jobs, industrial relations. They’ve got everything wrong and we now continue with the worst economic performance in the OECD.
US inflation is currently at 2.6% and their latest GDP forecast is for a 5.4% annualized growth rate.
For comparison Australia with near record levels of immigration (boosts gdp) has a growth rate of 2.1%. A massive per capita recession.
Yay
At least fascists and authoritarians Capitalise on crisis to induce and create systemic change (in their favour). Where as the centrist “left” of establishment capitalism, will fight *tooth and nail* to get back to a broken and crappy system we didn’t like before.
This is the “progressive” promise of the Labor establishment: A Capitalism at least as good at what we had under Scott Morrison.
What’s a leftist to do but vote way further left than Labor.
The news goes from bad to worse for households. Not only are the prices of essentials like food and shelter rising but the answer to stop these inflationary pressures is to raise the cost of another essential – mortgage repayments.
This terrible CPI print not only guarantees a rate rise next week but it increases the odds of another one following it soon after.
The funniest thing is going to be how much our economy is going to be hit when the US lowers interest rates when the new US fed chairman takes over – it will be a double whammy. High inflation, high interest rates and investment being taken out of this country – perhaps even a triple whammy you could describe.
Perhaps it is also time to re-do the survey – https://www.reddit.com/r/AustralianPolitics/s/megitdm6Va