RBA 2/2/21

Discussion in 'Markets & Economies' started by mmm....shiney!, Feb 1, 2021.

  1. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    Meeting today:

    103% certain we won't see any change in the official cash rate either way, could be wrong though. But 104% certain I'm not. :p

    They'll probably just concern themselves with re-affirming their commitment to ongoing bond purchases as needed, they'll talk about Covid related policy decisions, jobs, rising price of assets (in particular housing) and bang on about something which they've repeatedly been unable to achieve - creating inflation.

    Housing will likely remain on the agenda all year IMO.
     
    Stoic Phoenix, Number 47 and 66rounds like this.
  2. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    Ask Joe Hockey about housing....

    “HOUSING BOOM!”
     
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  3. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    I’m surprised the housing boom is not more reflected in the inflation.
     
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  4. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    ^^^
    What about.....

    “MINING BOOM!”

    another quote from Joe Hockey
     
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  5. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    Apparently housing is down 0.9 in the December qtr, and the CPI figures only reflect capital cities, not regional areas where housing has increased in price at a greater rate.
     
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  6. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    Expanding their bond buying program.

    https://www.rba.gov.au/media-releases/2021/mr-21-01.html
     
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  7. leo25

    leo25 Well-Known Member Silver Stacker

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    And the government will use that money to support failing businesses and support the property market. What a waste.
     
  8. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    ^ but mostly it goes to guaranteeing a return for their institutional investor mates
     
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  9. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    ^^^
    Mostly guaranteeing the party’s election donations for the future to come
     
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  10. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    Not sure why AUD went south?
     
  11. 66rounds

    66rounds Well-Known Member Silver Stacker

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    More QE
     
  12. Lovey80

    Lovey80 Well-Known Member

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    I’ve been bleating about this for years. It’s a complete farce.
     
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  13. BuggedOut

    BuggedOut Well-Known Member Silver Stacker

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    Got a source for this? The info I'm looking at suggests housing was up.

    https://www.abs.gov.au/media-centre/media-releases/cpi-rose-09-december-2020-quarter

     
  14. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    @BuggedOut, I didn't get it right, it's down 0.9% for the year Dec19 - Dec20 and down 0.6% from Sep20 - Dec 20.

    Screen Shot 2021-02-03 at 9.08.21 am.png
     
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  15. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    And a strengthening USD against majors.
     
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  16. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    @BuggedOut but then if you look at CoreLogic's stats you get an entirely different picture:

    Screen Shot 2021-02-03 at 9.19.40 am.png

    So, which source is more credible? I have no idea.
     
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  17. BuggedOut

    BuggedOut Well-Known Member Silver Stacker

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    Thanks shiney, but what is the source for the first screenshot you've posted there? Is that from the ABS? RBA? Got a link?
     
  18. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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  19. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    Weird how USD strengthen when they’re on COVID high....
     
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  20. BuggedOut

    BuggedOut Well-Known Member Silver Stacker

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    Thanks shiney. I would trust the ABS over CoreLogic.....but not by much.

    Martin North and John Adams were regularly challenging CoreLogic for a while there and questioning the integrity of their stats. They seem to consistently report higher numbers than others to give a more upbeat outlook.
     
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