Martin North – Page 71 – Digital Finance Analytics (DFA) Blog

Is There More Inflation Waiting In The Wings?

The ABS Released their latest Producer Prices Indexes today. Contains a range of producer price indexes in the Australian economy, comprising mining, manufacturing, construction and services industries.
Final demand (excluding exports) rose 0.7% this quarter and rose 5.8% over the past twelve months.

These are intermediate price rises which will flow into inflation later suggests that in some sectors like construction, costs are set to rise further.

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ASIC’s Arrogance Is Out Of Control!

It is unbelievable that ASIC has started 2023 with an extraordinary attack on the Federal Parliament on the eve of a major inquiry about to examine ASIC’s investigation and enforcement performance.

Earlier this week, we had an extraordinary attack by ASIC on the Federal Parliament’s system of oversight.

Both outgoing Commissioner Sean Hughes and ASIC Chairman Longo has attacked Parliament’s oversight as inefficient and waste time!

ASIC will be appearing before Senate Estimates either on 15 or 16 February 2023, so this will be the next set of potential fireworks with Senators.

Senator Bragg and the Senate Economics References Committee has extending the deadline from Friday 3 February 2023 to Tuesday, 28 February 2023. Almost 4 weeks for submission relating to the ASIC Inquiry.

https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/ASICinvestigation

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Up To 4.5% And Then Hold Says The Bank Of Canada!

The Bank Of Canada lifted rates by a further 25 basis points overnight, to 4.5%, and they continue QT. But they say they will hold now and pause to assess the impact of the rises.

In addition, they will start to publish minutes of their discussions, and also will hold losses on their accounts, rather than sending them back to Government.

Important signals which other Central Banks are likely to emulate and its worth noting how much lower rates in Australia are thanks to a series of lower hikes in Australia. Yet here, inflation was reported as higher than expected yesterday – perhaps we need higher rates here?

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The CPI Rockets To 7.8% – But Is This The Peak?

Stronger than expected data from the ABS today increases the likelihood of a cash rate hike from the RBA next month. The moving parts were all over the shop, warped by the addition and removal of various Government support programmes and holiday travel and spend.

No discretionary remains very high, and more costs will flow from higher wages. This may not be over as soon as many expect.

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Regional Australia Is Another Country!

The latest from our surveys relating to households in Regional areas versus Suburban and City areas with a focus on the use of branches, and access to cash.

We find that regional areas are much heavier users of branches and cash, relative to other areas – and Canberra in particular.

This may well explain why those based in the ACT are so far removed from the real issues faced every day by regional households and businesses.

Time to get the Senate to start their review, as I discussed with Robbie Barwick in my live show recently. https://youtu.be/OijlQNTVwtU

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DFA Live Q&A: HD Replay Robbie Barwick: Time For A Public Bank

This is an edited version of a live discussion with Robbie Barwick from the Australian Citizens Party. In this show we will dissect the current financial system and consider how banking can be brought into line to serve the people, not profit from them.

https://citizensparty.org.au/

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FINAL REMINDER: DFA Live Q&A 8PM Sydney – Time For A Public Bank!

Join me for a live discussion with Robbie Barwick from the Australian Citizens Party. In this show we will dissect the current financial system and consider how banking can be brought into line to serve the people, not profit from them.

https://citizensparty.org.au/

You can ask a question live!

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Its Edwin’s Monday Evening Property Rant!

More from our property insider Edwin Almeida, as we celebrate the Year of the Rabbit.

Are we revisit the cooling off period question in the context of property purchase.

https://www.ribbonproperty.com.au/

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Should Governor Lowe’s Term Be Extended?

RBA Governor Lowe’s term is up for review later in the year. The current review of the Australian Central Bank will report around March, so what is the likely outcome.

Bloomberg reports on economists’ views of what might happen. But the elephant in the room is that inflation has been caused by poor monetary policy over the past couple of decades. or in other words, the RBA helped create the inflation problem they are now trying to defuse.

Maybe someone outside the Martin Place bubble would be more effective in helping to take the country forward.

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