Global banks reduce lending to worst fossil fuel emitters by billions in 2016

World’s largest banks lent $87bn to oil, coal and LNG companies in 2016 – a 22% drop from a collective $111bn worth of lending in 2015 Banking on Climate Change: Fossil Fuel Finance Report Card 2017, shows the world’s largest banks – including the Commonwealth Bank, Westpac, ANZ, and NAB< lent a collective $87bn to…… Continue reading Global banks reduce lending to worst fossil fuel emitters by billions in 2016

Banks should disclose lending to companies with carbon-related risks

New report by the Task Force on Climate-related Financial Disclosures (TCD), a G20 initiative led by Governor of the Bank of England and former Mayor of NYC Michael Bloomberg, outlines how companies should disclose climate-related information in their financial filings, with the aim of allowing economies to properly value climate-related risks https://www.theguardian.com/environment/2017/jun/29/banks-should-disclose-lending-to-companies-with-carbon-related-risks-says-report Report recommends that…… Continue reading Banks should disclose lending to companies with carbon-related risks

Conflict over predictions of RBA rate rises

Former board member John Edwards: RBA could increase interest rates 8 times in the next 2 years Support: RBA probably considering a program of rate increases given its forecasts for inflation returning to target and economic growth to accelerate to 3% against a stronger global backdrop Theorising that the long-term cash rate is about 3.5%…… Continue reading Conflict over predictions of RBA rate rises

OECD June Forecast for Australia

http://www.oecd.org/eco/outlook/economic-forecast-summary-australia-oecd-economic-outlook-june-2017.pdf Economic growth projected to increase gradually and reach almost 3% by 2018 Drag on growth from declining resource-sector investment will fade and gathering momentum outside the resource sector will support wage and employment growth, thus boosting consumer spending Tightening labour and product markets will bring inflation up from current low levels Predict the RBA…… Continue reading OECD June Forecast for Australia

The effect of immigrants on native wages

http://www.economist.com/blogs/freeexchange/2017/06/immigration-economics https://www.cgdev.org/blog/what-mariel-boatlift-cuban-refugees-can-teach-us-about-economics-immigration   Innately difficult to quantify: almost impossible to separate cause and effect – if a country with high rates of immigration also sees strong wage growth, there can be no assumption immigrants are boosting wage. It may be instead immigrants choosing to move to strong economies already encountering wage increases, or forecast for…… Continue reading The effect of immigrants on native wages

Unemployment falls to 5.5% in May

http://www.theaustralian.com.au/business/economics/unemployment-falls-to-55pc-in-may-as-figures-beat-expectations/news-story/5ede0c480628e1a16a6d0275c3afab26 Australia’s unemployment rate dropped to a four-year low in May to a lower than expected seasonally adjusted 5.5% from 5.7% in April Lowest jobless rate since February 2013 Seasonally adjusted workforce participation rate rose to 64.9% in May from 64.8% n April Supports view that there is an underlying strength in the economy despite…… Continue reading Unemployment falls to 5.5% in May