Lunch with craig james
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Transcript of Lunch with craig james
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Craig James, Chief Economist, @CommSecLate April 2016
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Important Information
This presentation has been prepared without taking account of the objectives,
financial situation or needs of any particular individual. Before acting on the
information in this seminar, you should consider its appropriateness to your
circumstances and, if necessary, seek appropriate professional advice.
Commonwealth Securities Limited ABN 60 067 254 399
AFSL 238814 (CommSec) is a wholly owned but non-guaranteed subsidiary of
Commonwealth Bank of Australia ABN 48 123 123 124 and a Participant of the
ASX Group.
Examples used in this presentation are for illustrative purposes only.
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The Big Issues
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Will oil prices rebound to US$100/barrel?
Supply/demand
Winners/losers
Competition for energy
Lower costs
Technology
The next China?
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Low inflation here to stay?…
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Global: Can do better…
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United States: Time on its hands
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China: Consumers to lead
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Australia: In good shape
StocktakeWorld-leading growth
Jobless rate 26-month low
Record car sales
Record dwelling starts
Record tourist arrivals
Above-normal spending
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Animal spirits return
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Housing: leads the way nationally
StocktakeMore homes
Apartments dominate
Slower population
Softer home prices
Watch vacancies
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Home prices: In context
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Future issues: Tax & spending
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Interest Rates: On hold
Stocktake ‘Easing bias’
Low inflation
But good economy
Inflation watch
Jobless rate in focus
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Aussie Dollar: Getting ahead of itself?
StocktakeUS rates to rise…slowly
Aussie rate cut?
China doubts
Commodity prices
Firmer Aussie economy
Tourism lifts
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Shares: Making profits, paying dividends
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Outlook
FORECASTS20162015
2.75-3.25%3.00%Economic Growth
2.25-2.75%2.00%Underlying inflation
5.50-6.00%5.80%Unemployment
end 2016mid 2016
1.75-2.00%1.75-2.00%Cash rate
5,500-5,7005,200-5,400Sharemarket (All Ords)
US73-79cUS72-78cAustralian dollar