So, the Reserve Bank of Australia resisted growing calls to cut interest rates yesterday. They were right to do so.
Yesterday saw the long-awaited announcement by the US government of a Ce further $200bn of tariffs on imported goods from China. This instantly quadrupled the amount of tariffs previously implemented.
Last Friday, Australian time, the US placed another US$16bn worth of tariffs on imported goods from China. The real possibility of tariffs on a further US$200bn of Chinese imported goods into the US remains a far more significant risk to global economic conditions.
The problem is indisputable – women make up just over half of the Australian population yet, on average, they are paid $26,000 less per annum than men
Governments and businesses around the world have expressed alarm at the possibility of a trade war developing from the planned US tariffs on steel and aluminium
On balance of risks KPMG Economics maintains its forecast of global growth for 2017 with real GDP at 3.0 percent lifting to 3.4 percent in 2018.
Last week’s Budget saw the introduction of new taxes, more recurrent spending, and a greater focus on delivering infrastructure.
The underlying economic forecasts contained in the budget do not indicate boom times ahead, and there is current excess capacity within the Australian economy which will take some time to be taken up.
#MYEFO: not responding to changed circumstances and borrowing from the future unfair to future generations
Put simply, we are simply not responding to our changed circumstances. Our first reading of MYEFO suggests for the period FY17 to FY20 government receipts are expected to be about…
by Brendan Rynne, Partner, Chief Economist. The September quarter 2016 GDP results confirmed what was expected, which is an economy that’s in reverse in real terms. Unfortunately, the key cause…