ICYMI
The data flood this week is pointing to March Qtr GDP growth near zero. The rate hike chatter is misguided, in the extreme.
RBA next week sld flag this weakness & falling inflation: unless of course it is on the cusp of yet another error to add to their list of stuff ups

RBA Preview
Recent data shows falls in retail trade, building apps, biz conditions, inflation & labour demand & big net export negative.
Absurd to think we'll see 'next move in rates is up' chatter unless of course RBA stuffs it up again (can't be ruled out)
My Two Minute Take

Got rid of old #SOLAR roof panels this week. Had new lot installed with three times more power than before. Cost plenty but am happy guy. Wont get any more energy bills (I hope). Qld Govt can give my $1000 to someone who has to sleep in car.

For the smarty pants' on Twitter with solutions to every economic problem, issue, shortfall in Australia (cough) you're free to run for office at the next election; apply to be an advisor to the govt.
I fear, however, you wouldn't win an election or be on a shortlist for a job.

The RBA has over tightened.

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More utterly horrible data - this time building apps. Interest rates are crushing builders and developers. Will not turn materially higher till the RBA cuts… hopefully soon

They were trying to tell us something

Politickler Stephen Koukoulas They also received subsidies when installing the panels. Should those who haven't installed solar complain about not receiving that subsidy,

Checking reaction in markets to QLD electricity subsidy effect on inflation - well. Zero. Of course. Bizarre reaction in some quarters.

Some folk complaining about ‘not getting the Qld electricity subsidy because they have solar’ a bit like whinging about rise in dole you won’t get because you have a job.

Not worth dying in a ditch with QLD electricity subsidy - but it will cut CPI by a tenth. Is not cash so the stimulus is about half of stuff all.

More lessons for the RBA.

I wonder if Australian economists will notice this?

Well. NS Sherlock.

Fed's Powell: 'I don't understand' where concerns about stagflation are coming from. Stagflation in the 1970s was 10% unemployment, high single digit inflation, slow growth. Now we have solid 3% growth and inflation under 3%. 'I don't see the stag, or the inflation.'
CNBC

Can't say I've really enjoyed a bunch of Australian institutional economists indulging in their best 1990s Bundesbank cosplay on inflation. Sequels are nearly always more embarrassing and insipid than the original. Economic pathologies included.

US data but probably the same in Australia

Commodity prices of relevance to Australian exporters continue to trend down.
Pressure on national income, the budget. Helpful in getting inflation down

I was initially staggered to see a reference to 'surging global inflation' - then I saw who has said it. Yep. Nup.
I wonder if they look at inflation in, IDK, China, Eurozone, UK, Canada, Japan and, well, even Australia.
I suspect not.