Everything Is Fine Boys… Honest!

At a gathering of central bankers in Hong Kong on Tuesday, RBA Governor, Michelle Bullock claimed that household finances in Australia are holding up well, despite 4.25% of rate hikes. The rookie RBA governor appears even more out of touch than her predecessor. “Households and businesses in Australia are actually in a pretty good position. Their balance sheets are pretty good”, she said. “We’ve been surprised a little bit on the strength of activity. It’s held up a little better than we thought. That’s meant that services price inflation has held up a bit more. So what we’re observing is […]