by Stephen Roberts | 13 May, 2013 | Economics, Laminar Economist Stephen Roberts
The number of new housing finance commitments to owner occupiers jumped by a stronger than expected 5.2% in March building on gains of 2.1% in February and 0.7% in January. Excluding refinancings, home loan commitments jumped an even stronger 6.8% in March. The...
by Stephen Roberts | 13 May, 2013 | Economics, Laminar Economist Stephen Roberts
The surprise policy move by the RBA last week, cutting the cash rate by 25bp to a record low 2.75% is unusual in that it represents a further easing of an already very accommodating policy setting at a time when there is ample evidence that growth in household...
by Stephen Roberts | 9 May, 2013 | Economics, Laminar Economist Stephen Roberts
April employment rose much more strongly than expected, up 50,100 (consensus +11,000) after the fall in March was revised to 31,200 (-36,100 originally) and a revised 71,700 gain in February. Ironing out the lumps and bumps in the monthly data, employment rose an...
by Stephen Roberts | 7 May, 2013 | Economics, Laminar Economist Stephen Roberts
The RBA cut the cash rate by 25bp to 2.75%, contrary to our view that rates would be stable. Much of the accompanying statement was relatively upbeat about economic conditions noting that housing and consumption spending was starting to respond to earlier rate cuts....
by Stephen Roberts | 7 May, 2013 | Economics, Laminar Economist Stephen Roberts
Retail sales were weaker than expected in March, falling by 0.4% m-o-m (market consensus forecast +0.1%), although coming after very strong readings in January and February with each month up 1.3% m-o-m. Even with the weaker result in March the volume of retail sales...
