The fragility in the Australian consumer sector was underscored this week by yet another weak set of wages data, with the wage price index coming in well below what the market was expecting, sending the Australian dollar tumbling.
It’s our starting point for this week’s episode of our Devils and Details podcast, where our guest is Jordan Eliseo, chief economist at ABC Bullion.
With continuing evidence of weakness in the domestic economy, especially when it comes to households, Eliseo thinks the RBA will have to cut rates next year to at least 1.25%.
Prompted by growing volumes of client queries about bitcoin, Eliseo has been doing some deep research on cryptocurrencies, and he shares his insights on “forking” and other trends in digital money, and whether it might eventually usurp fiat money.
We also talk about the rising prospect of a banking royal commission given Labor’s lead in the federal polls, and what impact that might have on the major banks.
You can find the show on iTunes, where you can rate us and leave a review, or on your podcast platform of choice by searching “Devils and Details”. Or you can listen in below.