We ran out live stream event last night. During the session we discussed our revised scenarios, taking account of the complex local and international backdrop.
Using a baseline of July 2018, and looking ahead this is how it plays out. The risks from an international crisis have risen, the RBA itself is now projecting higher unemployment so lower wages growth, and the iron ore price is falling. Business and consumer confidence is being eroded, and the fall-out from the high-rise construction fiasco are only just starting to play out.
There is a path to property values rising, but we think this is relatively short lived.
As expected, the Bank of England finally cut the base rate by 0.25%, to 5%, the first cut in four and a half years...
This is my monthly summary of recent global and local economic events, based on an edited conversation I record with Nuggets News. This time...
We look at the latest announcements from Victoria. Next live event: https://youtu.be/IV-Ev2Sriqw Go to the Walk The World Universe at https://walktheworld.com.au/