Consumer caution was shaping up as the major domestic risk to the Australian economic outlook in 2006. Good labor market outcomes were always going to be the best antidote to this caution.
More Quotes from Michael Blythe:
Business borrowing had another strong month, pointing to ongoing investment growth. Investment again looks set to support economic growth this quarter.Michael Blythe
It's on the side of the ledger for a tightening bias. But with uncertainty about global growth and oil prices, the bank isn't likely to move rates anytime soon.
Michael Blythe
Building approvals have been volatile, but with this bounce, and other data like housing credit, it does look like the housing sector is near bottom after a very mild downturn.
Michael Blythe
Signs of slowing growth and wages moving sideways rather than picking up, and of course the currency showing some signs of life, suggest that the Reserve Bank has probably administered enough monetary medicine for the time being.
Michael Blythe
The most likely outcome is that interest rates will rise.
Michael Blythe
There were new building regulations there that took effect from July 1 which are going to bump up the cost of new houses. It looks like there was a last minute rush to beat that which pumped up previous months and created this pothole for us to fall into in July,
Michael Blythe
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Toni Morrison
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When a true genius appears, you can know him by this sign: that all the dunces are in a confederacy against him.
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