Chanticleer
Bullock v the burritos: $3b float speaks to the RBA’s nagging problem
Central banks have a problem: rate hikes are slowing the economy, but a wealth effect from housing and share is keeping inflation sticky. This tug of war will be tricky to navigate.
In his mid-year economic outlook released on Thursday night, the chief economist of private capital giant Apollo, Torsten Slok, describes a world headed for a tug of war between two economic forces.
On one side, the lagged effects of the Federal Reserve’s interest rate hikes – and those of other central banks – continue to weigh on economic growth, as higher borrowing costs hit indebted households and businesses.
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