Today, Australia and New Zealand Banking Group Ltd [ASX:ANZ] appointed Antonia Watson as acting CEO of ANZ, following the departure of David Hisco.ANZ’s share price weakened at today’s open on the news.But at the time of writing, shares were trading slightly higher at $28.28, up 0.21%.
That is exactly what the market is predicting today. The RBA Governor said as much in the minutes from the last meeting. In fact, you are unlikely to find anyone who doesn’t think the RBA will lower the cash rate today.
One thing I’ve been thinking about lately is plastic money and the fictitious numbers in banks we all trust.All this stuff, it’s not backed by gold or some other commodity. And it seems central banks and commercial banks can create as much of it as they like.
The RBA is due to meet less than two weeks out from the election. That is, two weeks from today (30 April). You can bet any cut will become highly politicised.
The tension between Australia’s weak economy and strong employment is mystifying, even the nation’s most qualified economists. So, don’t be too bothered if you are a little out of your depth when it comes to Australia’s economy. But, the RBA has been crippling with such tensions for years...
If you haven’t kept up with all the findings from the royal commission, here are a few of them… We found out AMP charged customers for services they didn’t receive. Then they lied to ASIC about whether they provided those services or not.
What we really need to fix our banking system is far smaller banks and less regulatory help for the Big Four. With lots of small local banks, local economies can thrive.
Central bankers don’t know what higher or lower interest rates will do. They have some idea. The US Federal Reserve, for example, is often confident when they hike or lower interest rates.
How much do you think central bankers make? Most of these people are rich before they ever enter the role. And when they leave, they accumulate even more wealth as a consultant, book deals, etc.
Many will tell you crypto's are one big scam. Some will happily explain it’s the future of money. Some love it, many hate it. But the real question is why do the haters hate it with such vigour and bite?