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."

Friday, March 23, 2012

RBA: Societe Generale's analysis of Aussie bank funding costs was right!

Debelle agrees completely with SG's arguments (noting that people confuse margins with levels):

That said, in summary, our estimate is that the absolute level of banks' funding costs fell from mid 2011 to February 2012, but by less than the reduction in the cash rate.
at 9:44 AM