Despite the latest discussion on monetary policy decisions by RBA governor Michele Bullock focusing on a cautious and wait-and-see approach,seems to be turning more dovish given his latest remarks in his press conference after deciding to leave the Fed funds rate unchanged.
Made worse, of the total $1 trillion required to be refinanced this year, 38 per cent of this is owned by US banks, which only compounds the issues faced by insolvent banks in early 2023. Although February job figures were more than double economists’ expectations, any further rate hikes could effectively force the economy into freefall.
As for sovereignty over submarines, we are told Australia will have full control. However, ANU Professor Hugh White says “the US may still expect us to support them in a future war”.