economy
Consumer confidence surges on back of interest rate cut
12 March
The Reserve Bank’s first rate cut since 2020 has delivered a welcome boost to the economic outlook, but Australian consumers are still more pessimistic than optimistic. The Westpac-Melbourne Institute consumer confidence survey posted a strong...[Read More]
Millions of Australians set for welfare payments boost
12 March
Millions of Australians on welfare will have their fortnightly payments boosted by small amounts under indexation changes due to kick in later this month. More than five million recipients, including pensioners, renters, and job seekers will receive...[Read More]
Leading economists call out coalition’s inflation claim
12 March
Leading economists are criticising coalition claims that inflation has doubled under Labor, saying politicians are overplaying the influence governments have over the economy. The coalition has distributed a graphic on social media stating that...[Read More]
Blueprint to get nation moving, boost household budgets
12 March
Household budgets would be bolstered and cost-of-living pressures would ease under proposed changes to the nation’s competition policy, the federal government says. Assistant Minister for Competition Andrew Leigh revealed the findings of a...[Read More]
Australian economy to get pulse check, RBA minutes drop
5 March
Australia’s economic growth is expected to recover from its multi-decade lows when gross domestic product figures are revealed in the nation’s quarterly health check. The national accounts for December, due from the Australian Bureau of...[Read More]
Green shoots for economy as Australia snaps dire record
5 March
Australia’s economy has “turned a corner”, ending a record 21 months of falling living standards in an encouraging sign that there are better times ahead. Gross domestic product expanded by 0.6 per cent in the December quarter, the fastest...[Read More]
Underlying inflation up but good news on housing, rents
26 February
Australia has hit a bump on the road to disinflation but there are promising signs housing affordability challenges are easing. The Reserve Bank of Australia’s preferred measure of underlying inflation – the trimmed mean – rose 10 basis points...[Read More]
Slowdown in wages growth boosts rate cut case
19 February
Wages growth continues to decelerate, falling to 3.2 per cent in 2024 and adding to the case for more interest rate cuts. While bad news for workers, the Reserve Bank of Australia will be encouraged that the tight labour market does not appear to be...[Read More]
Rates cut at last but ‘no victory on inflation yet’
19 February
The Reserve Bank of Australia has cut interest rates for the first time in more than four years but mortgage holders might have to wait a while before more relief comes down the pike. Mortgage lenders including all four big banks immediately...[Read More]
New homes and land banking off-limits to foreign buyers
19 February
Foreign investors will be banned from buying existing properties for at least two years in a move the government says will make it easier for Australians to buy a home. But the restriction, which replicates a policy announced by the coalition, will...[Read More]
Dutton weighs in on RBA amid banana price rise warning
12 February
Inflation pressures could resurface if the Reserve Bank cuts rates prematurely, Opposition Leader Peter Dutton has warned amid fears the north Queensland floods could push up grocery prices. The devastating floods, which have led to two deaths, have...[Read More]
Concern Australian jobs at risk over Trump’s tariffs
12 February
Industrial communities are holding their breath to see whether Australia can negotiate an exemption to US President Donald Trump’s steel and aluminium tariffs. While Mr Trump signed off on 25 per cent tariffs without exception, confirmation he’s...[Read More]
States warned to tighten spending or pay more to borrow
12 February
Australian states have copped a blast for being too loose with spending, in a warning signalling taxpayers might soon be forking out more to cover the costs of burgeoning debt. S&P Global, one of the big three credit ratings agencies, warned states...[Read More]
Business conference revival an Aussie economic boon
12 February
From space science conventions to paediatric gastroenterology conferences, Australia has bagged $1 billion worth of international events. The lucrative business events sector took a hit during the COVID-19 pandemic and has struggled to get back on...[Read More]
Musk-like efficiency role ‘strange’ call for Australia
5 February
Australia has a red tape problem and even the boss of the corporate watchdog acknowledges it. But introducing an Elon Musk-style Minister for Deregulation is a “strange” way to go about it, Jim Chalmers says. The treasurer was responding to a...[Read More]