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, May 24, 2011

Stutchbury on IMF; also claims June dead, but July/August live

Stutchbury has an excellent column today on the IMF sagas, which is well worth a read. On the question of rate hikes, he seems to put a line through June (I am not as convinced), opting for July/August:

"Most Australian economic data has been on the soft side since since the RBA's May 3 board meeting signalled it would soon start lifting interest rates again to keep inflation within its 2 per cent to 3 per cent target band. This and the renewed euro-zone financial instability means the RBA almost certainly will sit pat at its June 7 board meeting. But a rate hike is likely to be a live option at its July 5 and August 2 board meetings, which will straddle the June quarter consumer price inflation release. The RBA's quarterly monetary policy statement on August 5 will reveal whether it still forecasts underlying inflation bubbling up above target."