A large chunk of economic data was released this week and while nothing was shocking or terrible, there is mounting evidence the world’s economic growth problem is entrenched.
The RBA leaves interest rates on hold and talks down the Aussie dollar, job ads point to Australian labour-market weakness, and the US Fed still worries about the global economy, writes Richard Holden.
The key economic news this week focussed on what the United States Federal Reserve did with interest rates, and what the Reserve Bank of Australia is likely to do, writes Richard Holden.
A lower Aussie dollar is good news for exporters. But it’s bad news for home owners, and consumers and business that source inputs from abroad, writes Richard Holden.
Changes to fundamentals in the US economy are important and positive, not in the least the shale gas revolutuon that is making America a re-emergent manufacturing power, says Geoffrey Garrett.
While the decline of the Australian dollar has been appreciable, there's no reason to think we're facing anything like the dire conditions of the Asian financial crisis 15 years ago, writes Geoffrey Garrett.
