In the Australian press this morning (actually late yesterday), from HSBC Australia chief economist Paul Bloxham:
HSBC Australia chief economist Paul Bloxham says he expects the Reserve Bank to hike interest rates in 2016
Says also that the government could boost growth by postponing its attempt top balance the budget "until 2016/17 when the economy will likely be stronger"
- "The government tried to tighten up fiscal policy last year when the mining boom was over,. When growth in the economy is sluggish, that is not the time to tighten fiscal policy."
Bloxham, commenting on his outlook for the upcoming budget say he is confident the government has learnt its lesson from last year when a harsh round of budget measures were a blow to consumer confidence and retail spending:
- "I do think we're likely to see that this year's budget will likely to be less damaging to confidence than we saw last year. I think we will see a bit more support for the economy from the fiscal situation, we certainly should see a bit more support."
I hope Bloxham is right ...
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Earlier: Australia - overnight press - "RBA's Edwards welcomes jobs data"
