Stephen Koukoulas

Obviously, a heavy political element to that.

So I think she'll bat them away to the sideline.

But just a few hours after the GDP numbers are released and again, in concert with last week's inflation number, the week before that, the unemployment numbers, she'll be able to give a bit more of a, I guess, a preview of where the RBA is thinking about the economy as they get ready to their board meeting on the 15th and 16th of June.

be interesting to see if uh if michelle bullock does wade into that one it'll be interesting to see but the way that she's operated in her first two and a half years or so as governor has been to sort of step away from politics not because she's scared to talk about it but it's not her job uh she's made that very clear this is not my assessment it's her assessment she's got uh

The independent approach of the RBA, looking at the inflation risks, managing inflation, managing full employment and tax policies and other fiscal policy measures.

She said, well, that's the domain of the government.

We will take account of those, but we won't comment on whether they're good, bad or indifferent.

They'll take account of them when they're assessing the inflation risks out there.

So it's a chance.

Maybe she'll sort of maybe she'll dip her toe into the political debate, but I suspect she won't.

And the politicians in the Senate will be trying to tease something out of her just to get her to say something that they can use politically.

Again, we saw with Jenny Wilkinson's speech last week and all of the other incredible debate that's going on around the capital gains tax changes.

Well, the last couple of months on building approvals, we've had a plus 19%, minus 10%.

So they're all driven by high-rise apartments being approved or not approved.

Gosh, the bottom line, though, is the trend is high.

It'd be lovely to see just sort of like a flat result for the month, which would confirm an uptrend.

So that's what we're going to be seeing on building approvals.

And we know we desperately need new housing supply.

So that's a really important part of the equation.

And, of course, we've got this in the context of the recent news, too, that house prices are starting to weaken.