Wednesday, 3 June 2009

Remember Ms Beacher of TD Securities?

A special mention for the forecasting result of TD Securities senior strategist Annette Beacher who back in May was "in shock" when the ABS March figures showing employment up and unemployment down was not what she and other economic analysts expected. Ms Beacher’s confident assertion back then was that the data did not alter her fundamental view of the economy. She still expected interest rates to bottom at two per cent and gross domestic product (GDP) to fall by 0.7 per cent in the March quarter. I will keep you posted on the interest rate front but am inclined personally to find of way of backing an increase!
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