Rates must go up and they will

Terry McCrann once again does his analysis ahead of today's Reserve Bank board meeting

The Reserve Bank really has no choice. It must lift its official cash rate (today); and it will... 

Now a rate rise will come absent only some form of global financial meltdown before Tuesday. And the warring politicians in the US still failing to agree to lift their debt ceiling would NOT of itself constitute such an event.

Terry tells me he's the man to watch on monetary policy and I hear he has picked 18 of the last 2 moves in official interest rates.

Well done Terry. I'm sure today will be no exception. Read about the RBA's decision here.

 

Now the real interest is in rates

As the Reserve Bank of Australia meets to discuss monetary policy, Terry McCrann is ahead of the curve:

The Australian economy shrank in the March quarter but is smack in the middle of a boom and the Reserve Bank will lift interest rates in July. 

Increased spending means RBA must lift rates now [...] the RBA has to deliver somewhere between two and four rises over the next year. It has to start now.

Read about the RBA's decision here - due out this afternoon.

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A picture of mutual loathing

No talkies may be safer, after all

Renewed tensions between the two rivals were obvious in their body language when they were later seen sitting in the courtyard of the Herald Sun building - both unable to look at each other or share a word…


UPDATE

Rumours, rumours:

Later yesterday, there were rumours of at least two screaming matches between the pair in the past 24 hours.

In one case, a rumour ran, the pair clashed late yesterday over who made up the spin 'carbon dioxide tax' , when in fact their discussion was understood to have concerned whether Julia's tax will give you herpes.

Don’t mention the blowout

Terry McCrann cuts through the hyperbole and does his analysis:

...remains a direct attack against our national interest, against the very foundation not just of our economy but of our society [...]

It will be worse than herpes.

Lies and pointless gestures

Terry McCrann checks Julia Gillard’s latest global warming article and really cuts to the nub of what is important:

There was Julia herself at it again today using the word  “carbon” or variants no less than 23 times in one column. She managed an extraordinary six uses of the term in just two successive sentences. 

We all know the utterly disgraceful game that you and she and the rest of your colleagues are playing - proposing actual policy. 

Greenhouse gas emissions increased by a record amount last year, to the highest carbon output in history, putting hopes of holding global warming to safe levels all but out of reach, according to unpublished estimates from the International Energy Agency… 

Last year, a record 30.6 gigatonnes of carbon dioxide poured into the atmosphere, mainly from burning fossil fuel – a rise of 1.6Gt on 2009.

Why should Australia do anything? 

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If it’s this serious, Gillard has to slug us

Terry McCrann says yesterday’s report by the Climate Commission demands...urgent action...(or else we will be) in deep trouble:

She wants to start the carbon tax at $20 a tonne - her Climate Change Minister Greg Combet (says) “well south of $40” (to give a ) sense of  (how) painless de-carbonising (is) 

The report [...] endorses it: she has to start (a) carbon tax... 

Or she rejects it.... (but) by sticking with $20 a tonne.....

....she has no intention of doing anything serious about climate change. 

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All spend and tax

There were no tax increases in the budget - or so the budget papers said.

Terry McCrann does his own analysis:

And now we are getting the huge tax increases to haul the deficits in.

Can this Government get any more duplicitous? Now we are getting tax increases even when there aren't any tax increases.