Episodes

  • Media coverage in the past month have highlighted diverging views towards the Government’s New Vehicle Efficiency Standard (NVES). The NVES will, for the first time in Australia’s history, set tailpipe emission targets for new light vehicles sold in Australia. Indeed, the NVES will send a strong signal that Australia will prioritise low-emissions vehicles. But what are the likely short-term impacts and how does it all work? To answer these questions, John Oh, Sustainable Economist and Dennis Voznesenski, Agricultural Economist, sit down to discuss the findings of the latest note on the NVES.

    ------ DISCLAIMER ------

    Before listening to this podcast, you are advised to read the full Global Economic & Markets Research (GEMR) disclaimers which can be found at www.commbankresearch.com.au. Information in this podcast is of a general nature only. It does not take into account your objectives, financial situation or needs and does not constitute personal financial advice. This podcast provides general market-related information, and is not investment research and nor does it purport to make any recommendations. The information contained in this podcast is approved and distributed by Global Economic & Markets Research (GEMR), a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”). The information is solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or other financial products. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Where ‘CBA data’ is cited, this refers to the Bank proprietary data that is sourced from the Bank’s internal systems and may include, but not be limited to, home loan data, credit card transaction data, merchant facility transaction data and applications for credit. As analysis is based on CBA customer transactions, it may not reflect all trends in the market. All customer data used or represented in this podcast is anonymised before analysis and is used, and disclosed, in accordance with the Group’s Privacy Policy Statement. The Bank believes that the information in this podcast is correct and any opinions, conclusions or recommendations are reasonably held based on the information available at the time of its compilation but no representation or warranty, either expressed or implied, is made or provided as to accuracy, reliability or completeness of any statement made.

  • Introduction to mandatory climate reporting in Australia could mean large businesses would need to estimate and report scope 3 emissions. What are scope 3 emissions? And how do they differ by industry? To answer these questions, John Oh, Sustainable Economist and Joseph Capurso, Head of International and Sustainable Economics sit down to discuss their latest note ‘A guidebook to finding hot spots in Scope 3 greenhouse gas emissions’.

    ------ DISCLAIMER ------

    Before listening to this podcast, you are advised to read the full Global Economic & Markets Research (GEMR) disclaimers which can be found at www.commbankresearch.com.au. Information in this podcast is of a general nature only. It does not take into account your objectives, financial situation or needs and does not constitute personal financial advice. This podcast provides general market-related information, and is not investment research and nor does it purport to make any recommendations. The information contained in this podcast is approved and distributed by Global Economic & Markets Research (GEMR), a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”). The information is solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or other financial products. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Where ‘CBA data’ is cited, this refers to the Bank proprietary data that is sourced from the Bank’s internal systems and may include, but not be limited to, home loan data, credit card transaction data, merchant facility transaction data and applications for credit. As analysis is based on CBA customer transactions, it may not reflect all trends in the market. All customer data used or represented in this podcast is anonymised before analysis and is used, and disclosed, in accordance with the Group’s Privacy Policy Statement. The Bank believes that the information in this podcast is correct and any opinions, conclusions or recommendations are reasonably held based on the information available at the time of its compilation but no representation or warranty, either expressed or implied, is made or provided as to accuracy, reliability or completeness of any statement made.

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  • February 2024 showed further evidence of a slowdown in consumer spending according to the CommBank Household Spending Insights series. A fall of 0.3%/mth occurred in February, with the peak in the index occurring in November 2023. There was evidence of a Taylor Swift, and other musical acts induced lift in spending with parts of Recreation and Hospitality seeing a strong increase. However other essential parts of the spending basket continue to lift, including Utilities and Health. Stephen Halmarick, Chief Economist, and Belinda Allen, Senior Economist discuss the results and touch of the Q4 23 GDP results and outlook for the Reserve Bank of Australia.

    ------ DISCLAIMER ------

    Before listening to this podcast, you are advised to read the full Global Economic & Markets Research (GEMR) disclaimers, which can be found at www.commbankresearch.com.au. Information in this podcast is of a general nature only. It does not take into account your objectives, financial situation or needs and does not constitute personal financial advice. This podcast provides general market-related information, and is not investment research and nor does it purport to make any recommendations. The information contained in this podcast is approved and distributed by Global Economic & Markets Research (GEMR), a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”). The information is solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or other financial products. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Where ‘CBA data’ is cited, this refers to the Bank proprietary data that is sourced from the Bank’s internal systems and may include, but not be limited to, home loan data, credit card transaction data, merchant facility transaction data and applications for credit. The data used in the ‘Commonwealth Bank Household Spending Intentions’ series is a combination of the CBA Data and publically available ABS, CoreLogic and RBA data. As analysis is based on CBA customer transactions, it may not reflect all trends in the market. All customer data used or represented in this podcast is anonymised before analysis and is used, and disclosed, in accordance with the Bank’s Privacy Policy. The Bank believes that the information in this podcast is correct and any opinions, conclusions or recommendations made are reasonably held and are based on the information available at the time of its compilation. The Bank makes no representation or warranty, either expressed or implied, as to the accuracy, reliability or completeness of any statement made.

  • The CommBank Household Spending Insights shows a solid lift of 3.1% in seasonally adjusted terms over January 2024. The last three months of spending has been volatile, due to shifting summer spending patterns. Overall though the HSI shows spending running at 3.6%/yr, which when taking into account inflation and population growth suggests spending is weak on a real per capita basis. Stephen Halmarick, Chief Economist, and Belinda Allen, Senior Economist discuss the results and other trends evident in the data and how we expect spending to be volatile over this period.

    ------ DISCLAIMER ------

    Before listening to this podcast, you are advised to read the full Global Economic & Markets Research (GEMR) disclaimers, which can be found at www.commbankresearch.com.au. Information in this podcast is of a general nature only. It does not take into account your objectives, financial situation or needs and does not constitute personal financial advice. This podcast provides general market-related information, and is not investment research and nor does it purport to make any recommendations. The information contained in this podcast is approved and distributed by Global Economic & Markets Research (GEMR), a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”). The information is solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or other financial products. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Where ‘CBA data’ is cited, this refers to the Bank proprietary data that is sourced from the Bank’s internal systems and may include, but not be limited to, home loan data, credit card transaction data, merchant facility transaction data and applications for credit. The data used in the ‘CommBank Household Spending Insights’ series is a combination of the CBA Data and publicly available ABS, CoreLogic and RBA data. As analysis is based on CBA customer transactions, it may not reflect all trends in the market. All customer data used or represented in this podcast is anonymised before analysis and is used, and disclosed, in accordance with the Bank’s Privacy Policy. The Bank believes that the information in this podcast is correct and any opinions, conclusions or recommendations made are reasonably held and are based on the information available at the time of its compilation. The Bank makes no representation or warranty, either expressed or implied, as to the accuracy, reliability or completeness of any statement made.”

  • In our latest podcast Joseph Capurso, Kristina Clifton and Carol Kong from the International and Sustainable Economics team discuss our updated outlook for the major economies and their central banks. We now predict the FOMC will pull off a ‘soft landing’ in the US economy. Japan, Canada, the Eurozone and the UK will skirt close to recession in 2024. Meanwhile, China is expected to keep growing by ‘around 5%’. We expect all central banks under our coverage, with the exception of Japan, to cut interest rates this year.

    ------ DISCLAIMER ------

    Before listening to this podcast, you are advised to read the full Global Economic & Markets Research (GEMR) disclaimers which can be found at www.commbankresearch.com.au. Information in this podcast is of a general nature only. It does not take into account your objectives, financial situation or needs and does not constitute personal financial advice. This podcast provides general market-related information, and is not investment research and nor does it purport to make any recommendations. The information contained in this podcast is approved and distributed by Global Economic & Markets Research (GEMR), a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”). The information is solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or other financial products. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Where ‘CBA data’ is cited, this refers to the Bank proprietary data that is sourced from the Bank’s internal systems and may include, but not be limited to, home loan data, credit card transaction data, merchant facility transaction data and applications for credit. As analysis is based on CBA customer transactions, it may not reflect all trends in the market. All customer data used or represented in this podcast is anonymised before analysis and is used, and disclosed, in accordance with the Group’s Privacy Policy Statement. The Bank believes that the information in this podcast is correct and any opinions, conclusions or recommendations are reasonably held based on the information available at the time of its compilation but no representation or warranty, either expressed or implied, is made or provided as to accuracy, reliability or completeness of any statement made.

  • In our latest podcast the Australian Economics team run through a detailed outlook for the Australian economy over 2024. Gareth Aird, Belinda Allen, Stephen Wu and Harry Ottley discuss GDP, the RBA, inflation, wages, the labour market, home prices, investment and housing construction. We expect GDP growth to run below trend in 2024 and for the unemployment rate to grind higher. Our base case is the first RBA rate cut in September which should support growth and will be a tailwind on home prices later in 2024. Inflation is also expected to cool over the year to be at the top of the RBA’s target band by end-2024.

    ------ DISCLAIMER ------

    Before listening to this podcast, you are advised to read the full Global Economic & Markets Research (GEMR) disclaimers, which can be found at www.commbankresearch.com.au. Information in this podcast is of a general nature only. It does not take into account your objectives, financial situation or needs and does not constitute personal financial advice. This podcast provides general market-related information, and is not investment research and nor does it purport to make any recommendations. The information contained in this report is approved and distributed by Global Economic & Markets Research (GEMR), a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”). The information is solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or other financial products. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Where ‘CBA data’ is cited, this refers to the Bank proprietary data that is sourced from the Bank’s internal systems and may include, but not be limited to, home loan data, credit card transaction data, merchant facility transaction data and applications for credit. The data used in the ‘Commonwealth Bank Household Spending Insights’ series is a combination of the CBA Data and publically available ABS, CoreLogic and RBA data. Any reference to the term ‘CBA data’ means the proprietary data of the Bank. As the statistics take into account only the Bank’s data, it may not reflect all trends in the market. All customer data used or represented is anonymised and aggregated before analysis and is used, and disclosed, in accordance with the Bank’s Privacy Policy. The Bank believes that the information in this podcast is correct and any opinions, conclusions or recommendations made are reasonably held and are based on the information available at the time of its compilation. The Bank makes no representation or warranty, either expressed or implied, as to the accuracy, reliability or completeness of any statement made.

  • The November edition of the CommBank Household Spending Insights shows a solid lift of 1.8% in seasonally adjusted terms. The impact of Black Friday and Cyber Monday promotional activities can be seen through the data with a lift in the Retail category of 3.5% in the month and a 9.3% lift in Household goods. In our latest podcast, Stephen Halmarick, Chief Economist, and Belinda Allen, Senior Economist discuss the results and other trends evident in the data and how we expect spending to be volatile over this period.

    ------ DISCLAIMER ------

    Before listening to this podcast, you are advised to read the full Global Economic & Markets Research (GEMR) disclaimers, which can be found at www.commbankresearch.com.au. Information in this podcast is of a general nature only. It does not take into account your objectives, financial situation or needs and does not constitute personal financial advice. This podcast provides general market-related information, and is not investment research and nor does it purport to make any recommendations. The information contained in this podcast is approved and distributed by Global Economic & Markets Research (GEMR), a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”). The information is solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or other financial products. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Where ‘CBA data’ is cited, this refers to the Bank proprietary data that is sourced from the Bank’s internal systems and may include, but not be limited to, home loan data, credit card transaction data, merchant facility transaction data and applications for credit. The data used in the ‘Commonwealth Bank Household Spending Intentions’ series is a combination of the CBA Data and publically available ABS, CoreLogic and RBA data. As analysis is based on CBA customer transactions, it may not reflect all trends in the market. All customer data used or represented in this podcast is anonymised before analysis and is used, and disclosed, in accordance with the Bank’s Privacy Policy. The Bank believes that the information in this podcast is correct and any opinions, conclusions or recommendations made are reasonably held and are based on the information available at the time of its compilation. The Bank makes no representation or warranty, either expressed or implied, as to the accuracy, reliability or completeness of any statement made.

  • In our latest podcast, Joseph Capurso, Head of International Economics and Sustainable Economics, and John Oh, Sustainable Economist discuss some of the opportunities and challenges for electric vehicle charging in Australia. The build out of electric vehicle charging looks different within and outside the major capital cities. Inside the major cities, home and work places will provide significant charging for EV drivers. Renters and apartment dwellers are segments of the population that will rely on public electric vehicle charging. Outside the major capital cities, the progress of charging buildout will likely be dependent on government funding. More details can be found in the report.

    ------ DISCLAIMER ------

    Before listening to this podcast, you are advised to read the full Global Economic & Markets Research (GEMR) disclaimers which can be found at www.commbankresearch.com.au. Information in this podcast is of a general nature only. It does not take into account your objectives, financial situation or needs and does not constitute personal financial advice. This podcast provides general market-related information, and is not investment research and nor does it purport to make any recommendations. The information contained in this podcast is approved and distributed by Global Economic & Markets Research (GEMR), a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”). The information is solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or other financial products. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Where ‘CBA data’ is cited, this refers to the Bank proprietary data that is sourced from the Bank’s internal systems and may include, but not be limited to, home loan data, credit card transaction data, merchant facility transaction data and applications for credit. As analysis is based on CBA customer transactions, it may not reflect all trends in the market. All customer data used or represented in this podcast is anonymised before analysis and is used, and disclosed, in accordance with the Group’s Privacy Policy Statement. The Bank believes that the information in this podcast is correct and any opinions, conclusions or recommendations are reasonably held based on the information available at the time of its compilation but no representation or warranty, either expressed or implied, is made or provided as to accuracy, reliability or completeness of any statement made.

  • In our latest podcast, Stephen Halmarick, Chief Economist, and Belinda Allen, Senior Economist discuss the October edition of the CommBank Household Spending Insights report. The October results showed a fall of 1.0% in the month and annual growth sitting at 2.0%/yr. Weakness in Recreation, Hospitality and Food & beverage goods led the falls. While Utilities, Transport, Education, Insurance and Health all rose. In addition to the October moves, Stephen and Belinda discuss refinements to the HSI this month, removing some items that were investment, rather than spending in the Household Services category. More details can be found in the report.

    ------ DISCLAIMER ------

    Before listening to this podcast, you are advised to read the full Global Economic & Markets Research (GEMR) disclaimers, which can be found at www.commbankresearch.com.au. Information in this podcast is of a general nature only. It does not take into account your objectives, financial situation or needs and does not constitute personal financial advice. This podcast provides general market-related information, and is not investment research and nor does it purport to make any recommendations. The information contained in this podcast is approved and distributed by Global Economic & Markets Research (GEMR), a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”). The information is solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or other financial products. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Where ‘CBA data’ is cited, this refers to the Bank proprietary data that is sourced from the Bank’s internal systems and may include, but not be limited to, home loan data, credit card transaction data, merchant facility transaction data and applications for credit. The data used in the ‘Commonwealth Bank Household Spending Intentions’ series is a combination of the CBA Data and publically available ABS, CoreLogic and RBA data. As analysis is based on CBA customer transactions, it may not reflect all trends in the market. All customer data used or represented in this podcast is anonymised before analysis and is used, and disclosed, in accordance with the Bank’s Privacy Policy. The Bank believes that the information in this podcast is correct and any opinions, conclusions or recommendations made are reasonably held and are based on the information available at the time of its compilation. The Bank makes no representation or warranty, either expressed or implied, as to the accuracy, reliability or completeness of any statement made.

  • The CommBank Household Spending Insights (HSI) index for September 2023 rose by 0.5%/mth in seasonally adjusted terms, to 137.4. This was the same monthly increase as the revised outcome for August. Gains in September were led by Hospitality (fast food and restaurants), Food & beverage goods (liquor stores), Transport (higher fuel prices) and Education. It is worth noting, however, that 5 of the 12 spending categories saw declines in September, including Recreation (travel agents and ski fields), Utilities (government rebates at work), Health, Household services and Household goods. In this podcast, Stephen Halmarick, Chief Economist and Belinda Allen, Senior Economist discuss the September results and how recent resilience in household spending could impact the RBA.

    ------ DISCLAIMER ------

    Before listening to this podcast, you are advised to read the full Global Economic & Markets Research (GEMR) disclaimers, which can be found at www.commbankresearch.com.au. Information in this podcast is of a general nature only. It does not take into account your objectives, financial situation or needs and does not constitute personal financial advice. This podcast provides general market-related information, and is not investment research and nor does it purport to make any recommendations. The information contained in this podcast is approved and distributed by Global Economic & Markets Research (GEMR), a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”). The information is solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or other financial products. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Where ‘CBA data’ is cited, this refers to the Bank proprietary data that is sourced from the Bank’s internal systems and may include, but not be limited to, home loan data, credit card transaction data, merchant facility transaction data and applications for credit. The data used in the ‘Commonwealth Bank Household Spending Intentions’ series is a combination of the CBA Data and publically available ABS, CoreLogic and RBA data. As analysis is based on CBA customer transactions, it may not reflect all trends in the market. All customer data used or represented in this podcast is anonymised before analysis and is used, and disclosed, in accordance with the Bank’s Privacy Policy. The Bank believes that the information in this podcast is correct and any opinions, conclusions or recommendations made are reasonably held and are based on the information available at the time of its compilation. The Bank makes no representation or warranty, either expressed or implied, as to the accuracy, reliability or completeness of any statement made.

  • In this podcast, Stephen Halmarick, Chief Economist and Belinda Allen, Senior Economist discuss the revamped CommBank Household Spending Insights report. The data is now seasonally adjusted and weighted to the ABS census. For August, the Commbank HSI rose by 0.7%/mth to 137.0pts. Gains in August were led by Education (surge in international students), Transport (the higher price of petrol), Recreation (the FIFA World Cup), Household goods (after prolonged weakness), Motor vehicles, Health and Insurance (including for travel). This strength was partly offset by monthly declines in Hospitality and Utilities (government rebates at work). The annual growth rate of the HSI index picked up to 2.3%/yr in August, from a revised 1.9%/yr in July. The effects of 400bp of RBA rate hikes is clearly reflected in a significant slowdown in household spending, as measured by the CommBank HSI.

    ------ DISCLAIMER ------

    Before listening to this podcast, you are advised to read the full Global Economic & Markets Research (GEMR) disclaimers, which can be found at www.commbankresearch.com.au. Information in this podcast is of a general nature only. It does not take into account your objectives, financial situation or needs and does not constitute personal financial advice. This podcast provides general market-related information, and is not investment research and nor does it purport to make any recommendations. The information contained in this podcast is approved and distributed by Global Economic & Markets Research (GEMR), a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”). The information is solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or other financial products. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Where ‘CBA data’ is cited, this refers to the Bank proprietary data that is sourced from the Bank’s internal systems and may include, but not be limited to, home loan data, credit card transaction data, merchant facility transaction data and applications for credit. The data used in the ‘Commonwealth Bank Household Spending Intentions’ series is a combination of the CBA Data and publically available ABS, CoreLogic and RBA data. As analysis is based on CBA customer transactions, it may not reflect all trends in the market. All customer data used or represented in this podcast is anonymised before analysis and is used, and disclosed, in accordance with the Bank’s Privacy Policy. The Bank believes that the information in this podcast is correct and any opinions, conclusions or recommendations made are reasonably held and are based on the information available at the time of its compilation. The Bank makes no representation or warranty, either expressed or implied, as to the accuracy, reliability or completeness of any statement made.

  • In this podcast, we discuss the RBA’s most recent cash rate decision and the latest economic growth figures. The RBA kept the cash rate unchanged at 4.1% at their September Board meeting. This was the third consecutive on-hold decision, although the RBA continued to retain a tightening bias. The RBA seem comfortable that interest rate hikes are working to slow aggregate demand and inflation in the economy, and their concerns around the outlook for the Chinese economy are growing. Also this week, the ABS released the National Accounts data, showing the economy grew by 0.4% in the June quarter. Household consumption and dwelling investment were soft, and growth was driven by the public and external sectors.

    ------ DISCLAIMER ------

    Before listening to this report, you are advised to read the full Global Markets Research disclaimers which can be found at www.commbankresearch.com.au. Information in this podcast is of a general nature only. It does not take into account your objectives, financial situation or needs and does not constitute personal financial advice. This report provides general market-related information, and is not intended to be an investment research report. The information contained in this report is approved and distributed by Global Markets Research, a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”). The information is solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or other financial instruments. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Where ‘CBA data’ is cited, this refers to the Bank proprietary data that is sourced from the Bank’s internal systems and may include, but not be limited to, credit card transaction data, merchant facility transaction data and applications for credit. As the statistics take into account only the Bank’s data it may not reflect all trends in the market. All customer data used, or represented, in this report is anonymised and aggregated before analysis and is used, and disclosed, in accordance with the Group’s Privacy Policy Statement. The Bank believes that the information in this presentation is correct and any opinions, conclusions or recommendations are reasonably held based on the information available at the time of its compilation but no representation or warranty, either expressed or implied, is made or provided as to accuracy, reliability or completeness of any statement made.

  • The Chinese economy is weak and the government’s policy response has been underwhelming. Despite its reluctance, the government may be forced to unveil a large economic stimulus package in coming months to aid the economy. In this podcast, we discuss some of the key considerations in China’s fiscal and monetary policy debate. We also discuss our updated outlook for the Chinese economy.

    ------ DISCLAIMER ------

    Before listening to this report, you are advised to read the full Global Markets Research disclaimers which can be found at www.commbankresearch.com.au. Information in this podcast is of a general nature only. It does not take into account your objectives, financial situation or needs and does not constitute personal financial advice. This report provides general market-related information, and is not intended to be an investment research report. The information contained in this report is approved and distributed by Global Markets Research, a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”). The information is solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or other financial instruments. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Where ‘CBA data’ is cited, this refers to the Bank proprietary data that is sourced from the Bank’s internal systems and may include, but not be limited to, credit card transaction data, merchant facility transaction data and applications for credit. As the statistics take into account only the Bank’s data it may not reflect all trends in the market. All customer data used, or represented, in this report is anonymised and aggregated before analysis and is used, and disclosed, in accordance with the Group’s Privacy Policy Statement. The Bank believes that the information in this presentation is correct and any opinions, conclusions or recommendations are reasonably held based on the information available at the time of its compilation but no representation or warranty, either expressed or implied, is made or provided as to accuracy, reliability or completeness of any statement made.

  • The RBA left the cash rate on hold at 4.10% in August, the second consecutive on hold decision. The material lift in interest rates so far, lags in the transmission of monetary policy and uncertainty around the economic outlook drove the on hold decision. There are also growing signs inflation is coming down and consumer demand is moderating. We now expect the RBA to pause for an extended period at 4.10% before an easing cycle commences in Q1 24.

    ------ DISCLAIMER ------

    Before listening to this report, you are advised to read the full Global Markets Research disclaimers which can be found at www.commbankresearch.com.au. Information in this podcast is of a general nature only. It does not take into account your objectives, financial situation or needs and does not constitute personal financial advice. This report provides general market-related information, and is not intended to be an investment research report. The information contained in this report is approved and distributed by Global Markets Research, a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”). The information is solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or other financial instruments. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Where ‘CBA data’ is cited, this refers to the Bank proprietary data that is sourced from the Bank’s internal systems and may include, but not be limited to, credit card transaction data, merchant facility transaction data and applications for credit. As the statistics take into account only the Bank’s data it may not reflect all trends in the market. All customer data used, or represented, in this report is anonymised and aggregated before analysis and is used, and disclosed, in accordance with the Group’s Privacy Policy Statement. The Bank believes that the information in this presentation is correct and any opinions, conclusions or recommendations are reasonably held based on the information available at the time of its compilation but no representation or warranty, either expressed or implied, is made or provided as to accuracy, reliability or completeness of any statement made.

  • Electric vehicle (EV) uptake can help decarbonise transport in Australia. Joseph Capurso, Head of International and Sustainability Economics and John Oh, Sustainable Economist sit down to discuss the financial, emissions and driving-range trade-offs associated with EV purchase and ownership. They also discuss the range of government incentives available for EV uptake in Australia.

    ------ DISCLAIMER ------

    Before listening to this report, you are advised to read the full Global Markets Research disclaimers which can be found at www.commbankresearch.com.au. Information in this podcast is of a general nature only. It does not take into account your objectives, financial situation or needs and does not constitute personal financial advice. This report provides general market-related information, and is not intended to be an investment research report. The information contained in this report is approved and distributed by Global Markets Research, a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”). The information is solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or other financial instruments. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Where ‘CBA data’ is cited, this refers to the Bank proprietary data that is sourced from the Bank’s internal systems and may include, but not be limited to, credit card transaction data, merchant facility transaction data and applications for credit. As the statistics take into account only the Bank’s data it may not reflect all trends in the market. All customer data used, or represented, in this report is anonymised and aggregated before analysis and is used, and disclosed, in accordance with the Group’s Privacy Policy Statement. The Bank believes that the information in this presentation is correct and any opinions, conclusions or recommendations are reasonably held based on the information available at the time of its compilation but no representation or warranty, either expressed or implied, is made or provided as to accuracy, reliability or completeness of any statement made.

  • The RBA left the cash rate on hold in July at 4.10% as we had expected. In this podcast, Stephen Halmarick, Chief Economist and Belinda Allen, Senior Economist, run through the three main reasons why the RBA left the cash rate on hold. The material lift in interest rates to date, the deceleration in the pace of the monthly CPI and the opportunity to wait and assess the economy and the outlook fed into the decision. Stephen and Belinda also discuss the outlook for the cash rate from here.

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    Before listening to this report, you are advised to read the full Global Markets Research disclaimers which can be found at www.commbankresearch.com.au. Information in this podcast is of a general nature only. It does not take into account your objectives, financial situation or needs and does not constitute personal financial advice. This report provides general market-related information, and is not intended to be an investment research report. The information contained in this report is approved and distributed by Global Markets Research, a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”). The information is solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or other financial instruments. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Where ‘CBA data’ is cited, this refers to the Bank proprietary data that is sourced from the Bank’s internal systems and may include, but not be limited to, credit card transaction data, merchant facility transaction data and applications for credit. As the statistics take into account only the Bank’s data it may not reflect all trends in the market. All customer data used, or represented, in this report is anonymised and aggregated before analysis and is used, and disclosed, in accordance with the Group’s Privacy Policy Statement. The Bank believes that the information in this presentation is correct and any opinions, conclusions or recommendations are reasonably held based on the information available at the time of its compilation but no representation or warranty, either expressed or implied, is made or provided as to accuracy, reliability or completeness of any statement made.

  • Inflation, while coming down, remains too high for central banks’ comfort. A recession is likely needed in some economies to bring inflation back to target. Joseph Capurso, Head of International and Sustainability Economics and Carol Kong, Economist discuss their updated forecasts on the global economy and foreign central banks’ policies.

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    Before listening to this report, you are advised to read the full Global Markets Research disclaimers which can be found at www.commbankresearch.com.au. Information in this podcast is of a general nature only. It does not take into account your objectives, financial situation or needs and does not constitute personal financial advice. This report provides general market-related information, and is not intended to be an investment research report. The information contained in this report is approved and distributed by Global Markets Research, a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”). The information is solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or other financial instruments. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Where ‘CBA data’ is cited, this refers to the Bank proprietary data that is sourced from the Bank’s internal systems and may include, but not be limited to, credit card transaction data, merchant facility transaction data and applications for credit. As the statistics take into account only the Bank’s data it may not reflect all trends in the market. All customer data used, or represented, in this report is anonymised and aggregated before analysis and is used, and disclosed, in accordance with the Group’s Privacy Policy Statement. The Bank believes that the information in this presentation is correct and any opinions, conclusions or recommendations are reasonably held based on the information available at the time of its compilation but no representation or warranty, either expressed or implied, is made or provided as to accuracy, reliability or completeness of any statement made.

  • The Nature Repair Market Bill was introduced to parliament on the 29 March 2023. Joseph Capurso, Head of International and Sustainability Economics and John Oh, Sustainable Economist sit down to discuss how the Nature Repair Market offers an alternative to the existing offset markets. They identify demonstrated-outcome and standardised units of measurement as two important elements required for the market to succeed.

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    Before listening to this report, you are advised to read the full Global Markets Research disclaimers which can be found at www.commbankresearch.com.au. Information in this podcast is of a general nature only. It does not take into account your objectives, financial situation or needs and does not constitute personal financial advice. This report provides general market-related information, and is not intended to be an investment research report. The information contained in this report is approved and distributed by Global Markets Research, a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”). The information is solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or other financial instruments. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Where ‘CBA data’ is cited, this refers to the Bank proprietary data that is sourced from the Bank’s internal systems and may include, but not be limited to, credit card transaction data, merchant facility transaction data and applications for credit. As the statistics take into account only the Bank’s data it may not reflect all trends in the market. All customer data used, or represented, in this report is anonymised and aggregated before analysis and is used, and disclosed, in accordance with the Group’s Privacy Policy Statement. The Bank believes that the information in this presentation is correct and any opinions, conclusions or recommendations are reasonably held based on the information available at the time of its compilation but no representation or warranty, either expressed or implied, is made or provided as to accuracy, reliability or completeness of any statement made.

  • In a special Budget night podcast, Stephen Halmarick, Chief Economist and Belinda Allen, Senior Economist discuss the 2023/24 Budget in detail. Stephen and Belinda discuss what drove the surplus forecast for 2022/23, the first in 15 years and the key policy initiatives to reduce cost of living pressures. A key focus of the Budget was smaller budget deficits and debt projections due to changes in economic forecasts and spending changes.

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    Before listening to this report, you are advised to read the full Global Markets Research disclaimers which can be found at www.commbankresearch.com.au. Information in this podcast is of a general nature only. It does not take into account your objectives, financial situation or needs and does not constitute personal financial advice. This report provides general market-related information, and is not intended to be an investment research report. The information contained in this report is approved and distributed by Global Markets Research, a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”). The information is solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or other financial instruments. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. Where ‘CBA data’ is cited, this refers to the Bank proprietary data that is sourced from the Bank’s internal systems and may include, but not be limited to, credit card transaction data, merchant facility transaction data and applications for credit. As the statistics take into account only the Bank’s data it may not reflect all trends in the market. All customer data used, or represented, in this report is anonymised and aggregated before analysis and is used, and disclosed, in accordance with the Group’s Privacy Policy Statement. The Bank believes that the information in this presentation is correct and any opinions, conclusions or recommendations are reasonably held based on the information available at the time of its compilation but no representation or warranty, either expressed or implied, is made or provided as to accuracy, reliability or completeness of any statement made.

  • The CommBank Household Spending Intentions (HSI) index for April 2023 declined by 4.3%/mth in original terms, led lower by Home buying, Health & fitness, Transport and Household services. The weakness in April was partly driven by seasonal factors, ie. less trading days on the month due to the public holidays, but in seasonally adjusted terms the HSI index was also slightly down. In this podcast Stephen Halmarick, Chief Economist and Belinda Allen, Senior Economist dive into the details and note the continued fall in the pace of annual growth. Given the material lift in interest rates over the past year, a further slowdown in consumer spending is expected from here.

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    Before listening to this report, you are advised to read the full Global Economic & Markets Research disclaimers, which can be found at www.commbankresearch.com.au. Information in this podcast is of a general nature only. It does not take into account your objectives, financial situation or needs and does not constitute personal financial advice. This report provides general market-related information, and is not investment research and nor does it purport to make any recommendations. The information contained in this report is approved and distributed by Global Economic & Markets Research, a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”). The information is solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or other financial instruments. It does not constitute a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual clients. The data used in the ‘Commonwealth Bank Household Spending Intentions’ series is a combination of the CBA Data and publically available Google Trends™ data. Any reference to the term ‘CBA data’ means the proprietary data of the Bank. As the statistics take into account only the Bank’s data, it may not reflect all trends in the market. All customer data used or represented is anonymised and aggregated before analysis and is used, and disclosed, in accordance with the Bank’s Privacy Policy. The Bank believes that the information in this presentation is correct and any opinions, conclusions or recommendations made are reasonably held and are based on the information available at the time of its compilation. The Bank makes no representation or warranty, either expressed or implied, as to the accuracy, reliability or completeness of any statement made.