Michael Pascoe

Michael Pascoe

Michael Pascoe is a BusinessDay contributing editor. He comments on companies, markets and the economy.

Iron ore no longer our biggest export

Photo: Rob Homer


iron ore 




Michael Pascoe Our biggest mining exports have fallen back to be merely extremely rich sources of foreign exchange.

Consumers not doing what they’re saying


Michael Pascoe The most striking feature of the Westpac March consumer sentiment survey is what it says about consumers: they fib.

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Super ideas pour petrol on fire in the housing market

Michael Pascoe dinkus

Michael Pascoe There are things we can do about housing affordability, but they require some hard political work.

IGR: No Joe, the earth didn’t move for me.


Michael Pascoe Joe Hockey warned that the fourth intergenerational report would knock us off our chairs. It barely rattled a tea cup, scarcely moved the curtains.

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Myer is good for laughs – not governance

Michael Pascoe dinkus Dinkus

Michael Pascoe What a wonderfully amusing start to the week Myer has provided with its "Weak end for Bernie" – as long as your sense of humour verges on the dark side.

'Autumn avalanche' of data

Generic. Qantas Airlines Qantas base Sydney.
Photograph by Edwina Pickles. 
Taken Jan 2009. DIGICAM 100344Click to play video

Michael Pascoe Economic reporting season begins as Michael Pascoe comments on the business week ahead.

Capex capers

Generic. Qantas Airlines Qantas base Sydney.
Photograph by Edwina Pickles. 
Taken Jan 2009. DIGICAM 100344Click to play video

Michael Pascoe Recently revealed capex figures confirm why the Reserve Bank is cutting interest rates. Can we expect another interest rate trimming next week? Michael Pascoe comments.

Why another interest rate cut is coming

Will the RBA announce another interest rate cut on Tuesday?

Michael Pascoe Yesterday the Australian Bureau of Statistics ratified the Reserve Bank’s decision to cut interest rates and set the RBA up to do it again, perhaps as soon as Tuesday.

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Pensions soaring above inflation rate


Michael Pascoe The underperformance of the overall wages index, pensioners’ pay rises have been outstripping that of average Australians, at least in percentage terms.

Milk wars: Caution, Kiwis, as Europe's cows finally come home

A big increase in European production will shake up the global market for dairy products.

Michael Pascoe The global rush to cash in on China's rampant demand for milk has only just begun.

Cyclone Marcia helps bury the debate on power lines

Tropical cyclone Marcia highlighted the problems of ageing power infrastructure.

Michael Pascoe Forty years after Cyclone Tracy, we still have electricity on poles in cyclone country.

The great first home buyer myth

The first home buyer hasn't been quite the endangered species he and she have been made out to be.

Michael Pascoe You know the story about first home buyers squeezed out of the market, forever beaten at auctions, sometimes spun with an undertone of foreigners robbing “our children” of their...

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Scary Joe Hockey has cried wolf too often

The Treasurer was back in character this week, ready to star in a horror movie cut of the inter-generational report.

Michael Pascoe There are indeed very serious challenges ahead for Australia, but Joe Hockey now is the boy who cried wolf on debt and thus no one much is listening to him anymore.

Australia looking cheap as offshore bargain hunters move in

If you were buying out of Hong Kong, Australian property got cheaper in the past six months.

Michael Pascoe If you happened to be paying in Hong Kong dollars, Sydney house prices fell by 10 per cent in the past half year.

Michael Pascoe

Car leasing tax break a yardstick for government's fiscal integrity

Sections of Parramatta road where parking is allowed on weekends may soon become clearways on weekends. Picture shows cars parked along Parramatta Rd, Leichardt, Sydney. 27th April 2013. Photo by Tamara Dean

Michael Pascoe If all else fails, a Prime Minister desperate for a reboot instead of the boot could try running a government based on fiscal integrity.

What the RBA can't say: the government is the problem

Prime Minister Tony Abbott and Treasurer Joe Hockey during question time at Parliament House.

Michael Pascoe Yes, the Reserve Bank cut interest rates because non-mining investment is weaker than previously expected, but what the central bankers avoided telling the House of Representatives economics...

Economic problems

CANBERRA, AUSTRALIA - FEBRUARY 09:  Prime Minister Tony Abbott speaks during a press conference at Parliament House on February 9, 2015 in Canberra, Australia. Tony Abbott remains Prime Minister of Australia after a spill motion failed at a Liberal party meeting this morning. The motion was defeated, 39 to 61 in favour of Abbott.  (Photo by Stefan Postles/Getty Images)Click to play video

Michael Pascoe The Reserve Bank can’t say it, but the Federal Government has become an economic problem. Michael Pascoe comments.

Michael Pascoe

RBA telling its own Australian dollar story

Reserve Bank of Australia governor Glenn Stevens.

Michael Pascoe There it was again in the Reserve Bank governor’s brief statement on Tuesday: a selective use of dates and statistics to tell a story about the Australian dollar.

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Michael Pascoe

Malcolm Turnbull one of four reasons RBA should not cut interest rates

Communications Minister Malcolm Turnbull.

Michael Pascoe There is a case for waiting at least another month and perhaps longer before considering cutting rates.

Michael Pascoe

Rising rents suggest some Australian retailers aren't up to it

Foreign stores such as Zara have helped push rents beyond the reach of some local retailers.

Michael Pascoe Consumer confidence is weak, wages growth flat or negative, and retailers are complaining about online competition and wages. So why are retail rents soaring?