The Reserve Bank governor is optimistic about 2022 in part because COVID has loosened the government’s purse strings.
- Lecturer in Economics, Monash University
Sub-2% mortgages are a thing of the past. The Reserve Bank’s governor has signalled variable rates will rise sooner than previously expected, but says he doesn’t expect it in 2022.
The Reserve Bank of Australia is ready to taper off the ‘unconventional’ monetary policy measures introduced in response to the COVID-19 crisis.
Lowering the tax rates on profits from patents registered in Australia is unlikely to increase local research and development. But it will be a gift for multinationals.
The Morrison government’s tourism assistance package can be fairly criticised for being arbitrary and skewed by political interests.
Australia is being paid to borrow. For those funds at least, borrowing is the opposite to a burden on the budget.
The tourist traps of Sydney, Melbourne and Queensland have the most to lose. Regional towns and coastal resorts have the most to gain.
Almost all of the Reserve Bank’s new Term Funding Facility has ended up in the hands of big businesses. There’s a way to make sure small businesses get it.
Going GST-free for six months would cost the budget $35 billion. Very little of it would be wasted.
This service sector recession can’t be fought with infrastructure programs. Tour guides are ill-suited to building high-speed trains.
Reserve Bank Governor Philip Lowe has laid out a road map for measures to drive a range of other interest rates down, now that its cash rate has hit effective zero.
After the Reserve Bank cuts its cash rate to effective zero, it’s considering something similar for other rates.
MARTIN stands for “Macroeconomic Relationships for Targeting Inflation”. The bank’s new computer model says there’s much it can do to boost the economy after its cash rate hits zero.
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