Phillip Lowe in a Frock
The RBA has raised the cash rate for the third time in a row. The board voted 8-1. The dissenting member cannot be identified. Someone had a conscience. We just can't send them a fruit basket. Urban Wronski channels Clarke and Dawe.https://urbanwronski.com/2026/05/07/phillip-lowe-in-a-frock/
@InsurgoFormica
Well, I think we’re going to have to disagree on that because I think that the Board is captivated by the ‘job market’ figures as unemployment is deemed too high for #NeoLiberal #MonetaryPolicy (paraphrasing from Greg Jericho’s observations of the RBA). And, as I tooted before, the current economic data do not yet reflect any impact of the previous #CashRate rise.
But, I guess time will tell (6 months at least by my reckoning) if the RBA made the right or wrong decision this time around.
No worries dude, we have a different opinion that’s all.
It’s all laid for you all right here…
The #RBA is freeking useless and guess who’s going to pay that bill…
“14.30 AEST
Of course the #RBA did… against the better judgement of economists who are not died-in-the-wool #NeoLiberals. This rise will do nothing to stop inflation due to Stupid #tRump and his mate #Netanyahu military fling. The underlying inflation does not warrant this (according to Greg Jerocho — one of the more sensible economist driven by facts rather than mad theories). Further more, the lasat #CashRate rise has yet to show its effect on the economic numbers FFS.
“RBA raises interest rates for third time in 2026
reported by Luca Ittimani
The Reserve Bank has increased its official interest rate to 4.35%, as prices rise at their fastest pace since 2023.
The RBA’s board today hiked rates for a third consecutive meeting in 2026 after increases in February and March. Rates are now back where they were at the start of 2025, with each of that year’s three rate cuts now unwound.
Today’s hike was widely expected, picked by most economists surveyed by Bloomberg. But financial markets had not fully priced in an increase, with some thinking the RBA might wait and see what the federal government does with its budget next week.” (Source: The Guardian Live)
#AusPol #Economy #Inflation #Stagflation #Recession #MonetaryPolicy
🪴 Everybody thinks so! My forecasting system, with nearly 200 predictive models, provides an 82 per cent chance of RAISE! 🚀 This probability is in line with those provided by Australian analytical departments and expresses the market expectations ✅ The most recent readings of inflation above the target likewise suggest the same. Therefore, despite the predictive interval including the current cash rate value, I say it’s a likely RAISE.
This statment by the CEO of the Business Council Association is exactly what our #AlboPM is parroting publically:
“Mr Black gave evidence to the Senate inquiry on its second day of public hearings, arguing a levy would be “counterproductive” at a time when Australia needs more investment. […] Energy investors are like butterflies – if they are scared, they fly away,” he said, citing the head of the International Energy Agency (IEA).”
Which, of course, is absolute BS. All that investors need for incentive is a sound #BusinessCase that promisses #Profit. ANY PROFIT above the #CashRate will do. It doesn’t have to be the promisse of #Pilfering or #Sacking an economy FFS. ANy fool understands this. WHY doesn’t the #PM get it? If #AlboPM is not fool (and I have no reason to think he is), then HE IS COMPLICIT in the rape and sacking of the country by #Multinationals and the #ExtractiveIndustries - pure and simple (Because based on numbers, it’s not about jobs). And the #NationalSecurity ballon won’t fly here either.
I’m getting fed up hearing this neoliberal lie over and over and over again…
#MayTheFourth is just around the corner and with it the prospect of yet another ill conceived #CashRate rise… That is what the #RBA will deliver, if you’re to believe the majority of economic punters — not that I have much faith in economists’ speculations given they build their career on theorising about the past.
Still, if this does occur, I’d imagine it would be the equivalent of stomping on the gas pedal on the wrong side of the road to avoid an accident. Meanwhile, #JimChalmersMP driving behind it all will be squirming in his seat stomping on the brake pedal to avoid the mess created by the #RBA.
Much is going to be written about the RBA May and July meetings because, well…#Trump the well know insider traders and general fucktard.
#AusPol #Economics #StagflationFears #MonetaryPolicy #FiscalPolicy
Watching The Business on the ABC and…
I have to ask a few questions:
WIth so many neo-liberal economists taking up #Stagflation, #Inflation and #CashRate increases whether or not the war on #Iran comes to an end soon - are we looking at a self-fulfilling prophesy? Helped along by businesses raising prices ahead of the curve in a attempt to head off increasing #FossilFuel costs?
No one is talking about how well or otherwise the Australian economy is poised to cushion the predicted global economic shocks (Ie. The penetration of Renewables, rail transport, EVs, HousePV/btty systems, ICE Gas conversions, Fuel stocks and supply lines in Asia, price controls, etc.). Maybe because that’s harder to do than hitting the panic button.
Stock markets and shareholders ought not to be the be-all and end-all of economic life!
There are no hard, written in stone, rules about how to run an economy but for neo-classical (read neoliberal) stranglehold on economic thinking and political will or the lack thereof.
Yee gods help us all…
A thoughtful piece from #AmyRemeikis in The Point.
I would only argue that #fuel prices were not the main reason for the #RBA disastrous decision to raise the #CashRate to 4.1%. Bullock herself started her press conference with “the labour market’ is too tight. IOW, the RBA is considering low empoyment figures (seemingly arbritrarily so, the same as their arbitrary acceptable inflation window percentage) to be the cause for the underlying inflation (which is nowhere to be seen in the latest data, see Greg Jericho’s many articles on the matter).
Yes, Fuel prices at the pump have soared — partially due to greed — and this is precicely why the latest #RBA #CashRate rise was a complete ballsup and a failure to apply basic experiencial #economics (as opposed to debunked theoretical #neoliberal claptrap). Consumers will, as a result of fuel costs, spend less on non-essential goods and services, therefore the #inflation beast will retreat somewhat.
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