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 | 6 May, 2013 | Economics, Laminar Economist Stephen Roberts
Risk assets, including credit, were markedly stronger through April although the trajectory was quite volatile with mixed strength economic readings in the US and Australia, but a softer tone to Asian and European economic readings. During the month, the market’s... by Stephen Roberts | 29 Apr, 2013 | Economics, Laminar Economist Stephen Roberts
Inflation remains benign according to the Q1 CPI which at 0.4% q-o-q, 2.5% y-o-y came in lower than the market and probably the RBA too were expecting. Importantly, the main two underlying inflation readings were low as well with the trimmed mean up 0.3% q-o-q, 2.2%... by Stephen Roberts | 24 Apr, 2013 | Economics, Laminar Economist Stephen Roberts
The CPI and main underlying inflation readings were all below consensus and our forecasts ranging from 0.3% q-o-q to 0.5% with the headline CPI at 0.4% (consensus, 0.6%, Laminar, 0.4%). Annual inflation readings are just below the mid-point of the RBA’s 2-3%... by Stephen Roberts | 22 Apr, 2013 | Economist, Laminar Economist Stephen Roberts
The Q1 CPI reading is out on Wednesday 24th April at 11.30am and we expect an increase of 0.5% q-o-q 2.6% y-o-y (market consensus 0.6% q-o-q, 2.7% y-o-y) after rising 0.2% q-o-q, 2.2% y-o-y in Q4 2012. The main groups pushing prices up in Q1 were likely to have been...