Too much rather than too little remains the least risky pathway for the RBA

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There were no real surprises in RBA Governor Lowe’s Statement issued following the latest RBA Board meeting. While continuing to acknowledge a more positive outlook insofar as growth and employment are concerned, the absence of any evidence of significant price or wage inflation saw the Governor again stress that the  RBA will  continue with the 

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Will current Fed policy lead to inflation?

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Various key Fed spokespeople, including Chair Powell, Vice Chair Clarida and FOMC member Brainard, have all appeared to downplay nascent concerns that current Fed policy, combined with fiscal stimulus, may lead to the economy overheating and inflation. In so doing Fed speakers appeared keen to emphasise that any talk of withdrawing stimulus is a long way off.

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Structural and cyclical influences driving focus on rising inflation

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The following are some comments from Steve Miller, an adviser at GSFM, on inflation and bond yields. He also looks at the minutes from the Federal Open Market Committee (FOMC) on inflation, and upcoming data on unemployment. 1. Inflation and bond yields The sharp rise in bond yields and attendant yield curve steepening appear to

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The price of climate change: global warming’s impact on portfolios

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Climate change is gaining traction as a global policy initiative, a key risk factor and an emerging investment theme, according to the BlackRock Investment Institute (BII) Australian strategist, Steve Miller. In the lead up to next month’s UN Conference on Climate Change in Paris, the BII looks at the likely impact of climate change on

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