The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Tuesday, December 20, 2011

RBA: Overall Australian economic growth "consistent with trend" (not "sub-trend!")

Quite amusing reading the RBA's Board Minutes today, which very much dismiss any notion--bandied about by some folks--that the Aussie economy is currently struggling along at a "sub-trend" pace. This is just wrong, and misleading. Sure there are downside risks to the domestic economy--but they have yet to materialise in the hard data. To quote the RBA:

"Domestically, some of the recent economic data had been more positive than a few months earlier, and overall growth was consistent with trend."
at 12:34 PM