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, January 31, 2012

Rate cuts support business confidence

From CommSec:

The NAB business confidence index rose from +2.4 to +2.9 in December. Business conditions improved from +0.8 to +1.2. The survey of 400 businesses took place from January 9-13...

It appears that the rate cuts in late 2011 are providing a degree of support to the business sector. Not only did business confidence and conditions record a modest improvement but key forward looking indices also showed modest signs of tracking higher...the rate cuts are helping to instil a degree of confidence and also reduce borrowing costs for businesses and consumers.