Australia faces ‘sharp recession’ if US escalates war
8 April
US President Donald Trump’s threat to send Iran “back to the Stone Ages” has rattled equity markets.
If he follows through, Australia is at risk of entering a recession.
In a prolonged war scenario, modelled by Oxford Economics Australia, the...[Read More]
War puts world on road to higher prices, slower growth
8 April
The war in the Middle East will lead to higher inflation and slower global growth, says the head of the International Monetary Fund ahead of next week’s global forecast for the world economy.
The war has triggered the worst-ever disruption...[Read More]
The RBA conflict that could decide its next rates call
1 April
A conflict at the heart of the Reserve Bank’s mandate could determine the outcome of its next interest rates decision.
Minutes from the central bank’s March meeting published on Tuesday revealed a split between the five members who voted for a...[Read More]
CBA ups inflation prediction as supply chains strain
1 April
Economists at Australia’s largest lender have issued a dire warning for consumers, forecasting inflation to scale new heights as hopes of a quick resolution to the Iran war fade.
The Commonwealth Bank (CBA) expects headline inflation to peak at...[Read More]
Major capital home prices slip in two-speed market
1 April
Australia’s two largest property markets could be entering a downturn as rising inflation and interest rates squeeze prospective buyers.
But while the Middle East conflict will take some steam out of price growth, Australia’s chronic undersupply...[Read More]
Calm before storm: RBA braces for spikes and hikes
25 March
A slight easing in Australia’s headline inflation rate before the Iran war will do little to ease the Reserve Bank’s fears, as economists expect price growth to bounce back with a vengeance in March.
Consumer prices rose 3.7 per cent in the 12...[Read More]
Three more rate hikes tipped as prices begin to rise
25 March
Mortgage holders could face as many as three interest rate hikes by Christmas, according to money markets, as concerns mount over the Iran war’s impact on inflation.
Rates traders upped their predictions on Friday, pricing in almost 75 more basis...[Read More]
Spike in jobless rate unlikely to end RBA hiking cycle
25 March
Noisy jobs data has revealed a tight labour market, giving the Reserve Bank the green light to further hike interest rates despite a spike in unemployment.
The jobless rate jumped to 4.3 per cent in February, despite almost 50,000 more people...[Read More]
Treasurer softens up voters for ‘hard decisions’ on tax
25 March
Treasurer Jim Chalmers is willing to anger older Australians to make the tax system fairer for younger generations.
But he admitted productivity growth would take longer to recover than previously thought during a major pre-budget address to a...[Read More]
Cut price cheese and cars: What’s in the EU agreement
25 March
Australia and the European Union have signed a free trade agreement and defence and security partnership as both sides seek closer ties amid global instability.
TRADE
*More than 99 per cent of tariffs on EU goods coming into Australia will be...[Read More]
Unions urge five per cent pay rise as inflation bites
25 March
Nearly three million low-paid workers would receive thousands more in annual wages under a union push for a five per cent pay rise.
The ACTU will ask industrial umpire the Fair Work Commission to increase the minimum wage to $26.19 per hour, up from...[Read More]
Insolvencies at record highs, set to rise on Iran war
25 March
Australian businesses are failing at record rates and soaring energy prices are set to make matters worse, putting the national economy at risk of recession.
Business insolvencies and payment defaults were already at or near their highest-ever...[Read More]
Top bank wary of economic darkness ‘we have to have’
18 March
The Reserve Bank does not want to send Australia into a recession but its options to avoid one might be running out.
Governor Michele Bullock has old reporters a recession could be a possibility if inflation proves too hard to get down, after the...[Read More]
Collateral damage: war threatens to blow up inflation
18 March
The Reserve Bank of Australia has hiked interest rates for the second straight month, warning of more pain the longer the war in the Middle East drags on.
In a split five-four decision on Tuesday – the tightest since the central bank started...[Read More]
How much each state will get from the GST carve-up
18 March
CHANGES IN STATE AND TERRITORY GST PAYMENTS
NSW
* GST payment increased from $28.1 billion to $28.2 billion
* Relative share of GST compared to per capita allocation fell from 86c in the dollar to 82c
* Share of GST fell from 26.7 per cent to 25.5...[Read More]
