Professor Brendan Lyon, in a submission to a current senate inquiry into the consulting industry, says self-regulation has clearly for the industry.
Guardian Australia is reporting that a former KPMG partner is urging the federal government to consider a royal commission into the consulting industry. The minutes also reaffirmed the Fed's position that interest rates in the US will remain higher for longer, and still see a "mild recession" later this year - although there is still a slight chance they could avoid the downturn.Īnd to add a little more to the PwC scandal. (Interesting to note that this is a very similar statement to what we heard from the RBA this week.) "Most participants observed that uncertainty about the outlook for the economy and inflation remained elevated and that additional information would be valuable for considering the appropriate stance of monetary policy." "Most of those participants observed that leaving the target range unchanged at this meeting would allow them more time to assess the economy's progress," the minutes said. The minutes noted that although "some participants" wanted the Fed to proceed with its rate hiking cycle because inflation was taking too long to cool off, "almost all participants" found it was "appropriate or acceptable" to keep the rate between 5-5.25%. The crux of those minutes from the June meeting of the Fed showed that the central bank was united in its decision to leave interest rates on hold. We've since corrected it - but thanks to those eagle eyed readers for letting us know. That was meant to be a reference to the US Federal Reserve, which released their meeting minutes overnight when they put rates on hold in June. Good afternoon from me - I'm taking you through the rest of the trading day.įirst, a quick note: We've been so engrossed in monetary policy this week that we got ahead of ourselves on the blog and said we'd get more information about the RBA's rate pause.
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