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#rba

1 post1 participant0 posts today
Public
RaymondPierreL3

The #RBA get advice from this RWNJs crowd, the Centre for Independent Studies (CIS).

“CIS has been and remains a strongly Right-leaning think tank. “The Centre for Independent Studies promotes free choice and individual liberty”. It “believes true liberty and prosperity can only be achieved with a small state that defends free speech and national sovereignty”. It believes that “the excessive increases in public spending most governments in the developed world chose to make in response to the COVID crisis … (are) an alternative form of socialism”. It is concerned about China’s increasing “global footprint”. (All quotes from “ CIS About”,)

A current major activity at CIS is the questioning of Australia’s renewable energy plans and strong support for a future role for nuclear energy in Australia.” (Source:

Read this exelent piece and tell me the RBA cares about Australians wage earners, go on, convince me why don’t you [to on one in particular}. /end_rant

johnmenadue.com/post/2025/04/t

johnmenadue.comThe RBA should not be giving support to the Centre for Independent StudiesIn February, I and eight others from around Australia wrote to the Reserve Bank board to “urge the RBA to sever its relationship with, and support of, the Centre for Independent Studies”.
#Finance#MacroEconomics#Neoliberalism
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RaymondPierreL3

Another great article from Greg Jericho in The Guardian. One of the grwphs that caught my attention was the Household Spending in December 2024 (see article) it shows household spending catching up to the long term trend after the worst economic effects of the pandemic. It also occurs during the #RBA ’s heavy-handed cash rate hikes to, supposedly, ward off #inflation (which is in its remit). So household spending, according to the RBA is inflationary if left unchecked. Whereas we all know (because it has been reported many time by reputable economists - such as Greg, of course) that greed was the cause of #Greedflation. Prices rose undeservedly so after a fall in profits due to lockdown. That is, inflation was caused by corporations trying to recoup their putative losses and the households of #Australia were penalised for the lack of regulations on market profits and the insufferable tax subventions afforded the coprorate markets.

There are lessons to be learned here which will go unheeded by the electorate. Right wing govt (or centre right for that matter) is about securing profits for #Corporations . What the rest of us get are #Crumbs to keep us in place - that in a nutshell is #NeoLiberalism

Read more: theguardian.com/business/grogo?

The Guardian · The Reserve Bank should be looking at these numbers and wondering why it waited until February to actBy Greg Jericho
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colognella

Fulminanter Auftakt von „Art History Loves Wiki“ im Zentralinstitut für Kunstgeschichte. Umfassende Führung durch Kunstbibliothek und Fotothek, eine Art kombiniertes #KMB / #RBA in größer und gut ausgestattet. Viele bekannte und z.T. lange nicht gesehene Gesichter wie etwa @_omwo, gute Gespräche bei Quiche am Stehtisch, die nach der Paneldiskussion viel zu bereden hatten. Morgen Ärmel hochkrempeln und richtig einsteigen ins Thema! #ALW2025 #wikiversum #wikipedia #wikidata

Public
Mark

"The #Greens’ demands on the #RBA make for bad economic policy. Is it also crazy politics?".

"When the Greens tell #Labor they’re ready to negotiate, what they usually mean is they’re preparing to make populist demands that can’t or shouldn’t be met."

#InterestRates #economy #housing #populism #CostOfLiving #auspol

theconversation.com/view-from-

The ConversationView from The Hill: The Greens’ demands on the RBA make for bad economic policy. Is it also crazy politics?When the Greens tell Labor they’re ready to negotiate, what they usually mean is they’re preparing to make populist demands that can’t or shouldn’t be met.
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Josh McKinnon

Uh oh, inflation is up, including:
“Fruit and veg prices were up 6.3%, the most in a quarter since 2016, the ABS’s Michelle Marquardt said. Grapes, strawberries, blueberries, tomatoes and capsicums were among products facing “unfavourable growing conditions”.”

The obvious solution to this is to raise the interest charge on everybody’s home.
#RBA #auspol

Public
Grüne im Bundestag 🇪🇺🏳️‍🌈

Letzte Woche fand der Regenbogenempfang statt! Im Fokus dabei: das Erstarken rechtsextremer Kräfte in ganz Europa & ihre Auswirkungen auf Queerpolitik. Aber es gab auch Gelegenheit auf das zurückzublicken, was bereits erreicht wurde. Vielen Dank an alle, die dabei waren! 🌈💚#RBA

Nyke Slawik, Lisa Paus, Volker Beck, Sven Lehmann, Katharina Dröge und Tessa Ganserer stehen während der Veranstaltung in einer Reihe und posieren für ein Foto.
Katharina Dröge steht während der Veranstaltung auf der Bühne am Redepult und hält eine Rede.
Tessa Ganserer steht während der Veranstaltung auf der Bühne am Redepult und hält eine Rede.
Sven Lehmann steht während der Veranstaltung auf der Bühne am Redepult und hält eine Rede.
Replied in thread
Public
Heliograph

@jhaue also curious if we ever hear about this article again :welp:

"because the Reserve Bank was also lending billions to the banks through its Term Funding Facility an awful lot of cash accumulated... Beginning in 2020, the amount of surplus cash in the system exploded, from very little in the years leading up to COVID to A$450 billion." #RBA

If there was too much cash in the system, the Reserve Bank sold financial instruments such as bonds to banks, requiring them to pay from their exchange settlement account. If there was too little, it bought financial instruments from them, paying cash into their account. That’s until COVID. In 2020 it stopped buying bonds from banks, leaving cash to accumulate in their accounts in what it called an “abundant reserves” system. This was done to ensure the banking system had more than enough cash to deal with whatever was in store. And because the Reserve Bank was also lending billions to the banks through its Term Funding Facility an awful lot of cash accumulated in these accounts. Beginning in 2020, the amount of surplus cash in the system exploded, from very little in the years leading up to COVID to A$450 billion. Graph showing "Surplus balances in RBA exchange settlement accounts"
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Kathy Reid

Sure, it costs businesses money to deal with cash, but it always has. Isn't making customers pay extra for a cost that should already be priced into product or service delivery double dipping?

What we *really* should be talking about is how companies like banks are mining transaction #data and usin g it to profile people #SurveillanceCapitalism

#cash is still less traceable than card, and I am tired of being tracked and surveilled digitally.

I am appalled this is the thinking of the #RBA - it's clear whose interests they are serving.

abc.net.au/news/2023-12-12/asx

ABC News · RBA governor asks if Australians should pay a fee to use cash, while the ASX200 closes 0.5pc higher — as it happenedBy Nassim Khadem
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