WAGBA-HSBC Economic Outlook Breakfast
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The WAGBA-HSBC Economic Outlook Breakfast 2023 was held at the Hyatt Regency in East Perth on the 3rdMarch. The greatly informative event was well attended by some 50 business representatives as WAGBA had the privilege to welcome Paul Bloxham, HSBC’s Chief Economist for Australia, New Zealand and HSBC’s Head of Global Commodities as the key note speaker.
In his speech Paul Bloxham presented his insights on Australia’s economy within the context of inflation, rising interest rates, impacts to the Mining and other industries in Western Australia. Further he focused on the mechanisms of the global as well as the Australian economy, and the vital role that macro- and micro-economic data play within the realm of the financial industry. With a thorough explanation on how interest rates, inflation, unemployment rates and wage growth are geared together, Paul Bloxham also reflected on the impact the pandemic had and continues to have on the global and the domestic economy as the world is dealing with the aftermath of COVID-19.
In addition, the keynote speech covered the economic outlook for 2023 through the development of commodities where supply/demand as well as the global energy transition play pivotal roles. As Paul Bloxham explored the ideas of a commodity “super cycle” versus a “super squeeze”, he shared his opinions on the argument between the two. Finally, he outlined his expectations on the development of the major currencies within financial markets.
The keynote presentation was followed by a Q & A session.
WAGBA would like to extend its gratitude to HSBC for supporting such an insightful event, and to Paul Bloxham for his highly informative keynote presentation. Thank you to all attending WAGBA members, business representatives and guests for their contributions. We look forward to the next upcoming event with HSBC!
Paul Bloxham's Profile:
As the chief spokesperson for HSBC, Paul Bloxham’s primary focus is on forecasts and trends for the Australian and NZ economies and their interaction with global financial markets and international economies. Prior to joining HSBC in 2010, Paul Bloxham spent 12 years as an economist within the Reserve Bank of Australia's Economic Analysis Department where he headed up the overseas economies and financial conditions sections, as well as working on domestic forecasting and prices. As a regular commentator on local and international business television and a frequent contributor of opinion editorials to the Australian newspapers, Paul is also a member of the Australian National University's Shadow Reserve Bank Board and an Adjunct Professor at Curtin University, and holds a Master's degree in public financial policy from the London School of Economics.