US equities have been knocked again because those increased tariffs from the US on Chinese imports are looking more likely than not. Phil Dobbie talks to NAB’s Tapas Strickland about a session that has seen a growing concern over trade. To add to the woes, the European Commission has downgraded forecasts again including a drastic cut for German growth. The Aussie dollar has lost the gains it made after the RBA kept rates on hold yesterday, but isn’t a cut just a matter of time? And does this mean the RBNZ is unlikely to cut today? Plus, the Tory backbenchers are planning a mutiny tonight. Will they change the rules to oust their Prime Minster?
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A pandemic and an emergency cut with more help needed
The UK declared an emergency rate cut coordinated by government stimulus. We expect to hear Australia’s response today. But what of Europe and the US? NAB’s David de Garis on today’s Morning Call podcast.
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Is the EU anti-growth?
The EU is struggling right now. The Bundesbank has downgraded its 21019 GDP forecast from 1.6% down to 0.6%. The Italian government is being threatened for breaching the EU’s spending rules. Yellow vests protestors have been out on the streets of Paris for 31 weeks now, fighting against inequality. This week the European Central Bank meets to determine how to boost the bloc’s economic growth. But, Phil Dobbie asks Prof Steve Keen, isn’t it time for a fundamental rethink of how the EU is structured and operates? With reforms to the EU, would Brexit have been necessary?
To hear the full version subscribe by picking a plan in the right column of the Debunking Economics website (not the mobile app). Or become a patron at https://www.patreon.com/ProfSteveKeen
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Earnings anything but a damp squid
NAB’s Ray Attrill says the US dollar is being kept in check as investors see other central banks moving faster than the Fed. Like the BoE for example, but will they live to regret it?
