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Fiscal Policy

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Is it all falling apart for central banks?

Central banks are unable to ignore the inflation in front of them, but underlying macro-economic conditions indicate that inflation may be transitory and the consequences of monetary tightening dangerous.

Understanding QE and its impact on inflation

With bond rates and Reserve Bank actions driving equity markets and inflationary expectations, it pays to understand what is really happening in both central bank and commercial bank balance sheets.

Britain amid COVID and the pain of the final exit talks

No option removes the existential threats to the UK stirred by its EU departure. What started in 2016 as enough voters defying the odds has left the UK dangling politically and economically amid a pandemic.

10 reasons low interest rates may limit growth

Ultra low interest rates could be counterproductive for economic growth. Policymakers need to rely less on monetary stimulus and be mindful of the side effects they are creating, especially for retirees and savers.

Trump’s fiscal stimulus threatens stocks

Stocks are vulnerable if interest rates rise much faster than expected on inflation concerns. What is the probability of this heightened risk and what are the consequences for portfolios?

Unconventional monetary policy is now conventional

In a recent speech, US Federal Reserve Chair, Janet Yellen signalled that 'unconventional' monetary policy actions by central banks are likely to be 'normal' for many years.

Australia’s government debt and its ‘lazy balance sheet’

Despite the wide-spread perception that Australia’s debt position is unsustainable, it’s low in an historical sense and when compared to national income. We could be making more use of it.

Policy pincers in Australia and the US

Unemployment and inflation seem to be heading in different directions in Australia and the United States, but the outcomes for interest rates and equity markets might be the same.

Ian Macfarlane on emerging markets, banks and property prices

Part 2 of the edited transcript from the Morningstar Investment Conference Q&A session with Ian Macfarlane. He shares his thoughts on emerging markets, Australia’s banking system and property prices.

Running up and paying off government debt

In the second part of our Labor v Liberal series, we look at Australia’s level of government debt since Federation. Our current debt level is low when compared to national income and the rest of the world.

Budget time and Labor v Liberal on fiscal discipline

When comparing the fiscal disciplines of left- and right-leaning parties, do the stereotypes prevail? This first part of a three-part series looks at which parties have produced more federal surpluses and deficits.

QE causes currency and fiscal impotence

Quantitative Easing has been the order of the day for most of the major global economies. Increasing bank liquidity is meant to stimulate consumer and business lending. But for the US, things haven't quite gone to plan.

Most viewed in recent weeks

Is it better to rent or own a home under the age pension?

With 62% of Australians aged 65 and over relying at least partially on the age pension, are they better off owning their home or renting? There is an extra pension asset allowance for those not owning a home.

Too many retirees miss out on this valuable super fund benefit

With 700 Australians retiring every day, retirement income solutions are more important than ever. Why do millions of retirees eligible for a more tax-efficient pension account hold money in accumulation?

Reece Birtles on selecting stocks for income in retirement

Equity investing comes with volatility that makes many retirees uncomfortable. A focus on income which is less volatile than share prices, and quality companies delivering robust earnings, offers more reassurance.

Superannuation: a 30+ year journey but now stop fiddling

Few people have been closer to superannuation policy over the years than Noel Whittaker, especially when he established his eponymous financial planning business. He takes us on a quick guided tour.

Is the fossil fuel narrative simply too convenient?

A fund manager argues it is immoral to deny poor countries access to relatively cheap energy from fossil fuels. Wealthy countries must recognise the transition is a multi-decade challenge and continue to invest.

Anton in 2006 v 2022, it's deja vu (all over again)

What was bothering markets in 2006? Try the end of cheap money, bond yields rising, high energy prices and record high commodity prices feeding inflation. Who says these are 'unprecedented' times? It's 2006 v 2022.

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