Economy
Population growth not stopping ‘recession-like’ economy
7 October
Australians face “recession-like” conditions as the nation’s increasing reliance on population growth over productivity catches up with policy-makers.The economy is likely to avoid a technical recession, defined as two consecutive quarters of...[Read More]
Consumer confidence plunges to worst level since 1990s
7 October
Australian households are the most persistently pessimistic they have been since the early-1990s recession, after a fourth Reserve Bank rate rise.Following the RBA’s decision to lift interest rates to the highest level since 2011, confidence among...[Read More]
More pain brews for borrowers as rates hit 15-year high
30 September
Cash-strapped borrowers are being warned of more hikes to come by the Reserve Bank of Australia after it lifted interest rates to a 15-year high.In a unanimous decision, the central bank’s nine-member board lifted the cash rate target by 25 basis...[Read More]
Headline inflation jumps back to four per cent
30 September
Australia’s annual headline inflation rate has climbed to four per cent as higher oil prices continue to filter through the economy.The consumer price index rose 0.4 per cent in August, the Australian Bureau of Statistics reported on Wednesday, a...[Read More]
Debt concerns: treasurer’s era of cheap-money ending
30 September
Because everyone wants your money, you can charge them more for it.That’s the issue facing governments forced to pay investors more for borrowing cash in the form of bonds.The eye-watering sums being raised by artificial intelligence...[Read More]
Labour pains: jobs market too hot for inflation fight
23 September
Australia’s unemployment rate probably needs to edge a little higher to help get inflation back under control, Reserve Bank governor Michele Bullock says.Prefacing her remarks by saying the RBA does not want to see high unemployment, Ms Bullock...[Read More]
Albanese to advocate AI slowdown calls to Trump at UN
23 September
Anthony Albanese will make the case to Donald Trump for more guardrails to be placed on AI, ahead of a potential meeting with the US president on the sidelines of the United Nations.The prime minister will be in New York for the UN General Assembly,...[Read More]
September hike firms as RBA inflation fears come true
23 September
Economists at one of Australia’s big four banks expect the Reserve Bank to raise interest rates imminently after the central bank’s governor issued a dire warning about inflation.Michele Bullock told a parliamentary hearing in Canberra that it...[Read More]
Soft landing botched: IMF backs more rate rises
23 September
A global financial body has given the Reserve Bank the green light to hike interest rates and urged Treasurer Jim Chalmers to be bolder on tax reform.With a break-out in price growth hitting Australians’ living standards, returning inflation to...[Read More]
Iran and iPhones add to Reserve Bank’s inflation pickle
16 September
The rising cost of oil and iPhones is concerning the Reserve Bank of Australia as it approaches a crucial interest rate decision, the central bank’s chief economist says.With rising inflation pressures from the Middle East and more broadly around...[Read More]
Surprise downfall for rich state atop economic rankings
16 September
Queensland has usurped Western Australia at the top of Australia’s state economic rankings, as cracks emerge in the resource-rich state’s performance.WA slid two places to third in CommBank’s revamped State of the States rankings for the June...[Read More]
Australians are ‘furious’ about inflation: RBA deputy
9 September
Australians are “furious” about inflation and it will take the nation years to fully get on top on higher post-pandemic living costs, the Reserve Bank’s deputy governor says.Ahead of the central bank’s meeting later this month on interest...[Read More]
Reserve Bank’s grim rates warning as oil prices spike
9 September
The Reserve Bank might have to raise interest rates if inflation is higher than expected as oil prices surge back towards $US100 a barrel.More attacks on oil tankers in the Strait of Hormuz drove Brent crude above $US97 a barrel, which will seep...[Read More]
AI boom forecast as Australia’s biggest bonanza yet
9 September
The adoption of artificial intelligence is rocketing in Australia, creating massive demand for infrastructure that will deliver jobs and economic benefits.The nation was at the “cusp of a data centre boom”, Oxford Economics head of economics...[Read More]
‘Green light’ for rate hike as GDP growth surprises
2 September
Australia’s economy grew by 2.1 per cent in the last financial year, cementing the odds for another rate rise as the economy proves more resilient than the Reserve Bank expects.Gross domestic product expanded by 0.4 per cent in the June quarter,...[Read More]