economy
Retail sales rebound as interest rate call looms
3 July
Retail sales rebounded as cooler temperatures sent Australian consumers flocking back to the shops in search of winter apparel. Household spending has been subdued to start the year but retail turnover rose 0.2 per cent in May, the Australian Bureau...[Read More]
Super funds spared billions after US axes ‘revenge tax’
3 July
Australian superannuation funds are breathing a sigh of relief after the US dropped a so-called “revenge tax” on foreign investors. The super industry had been ringing alarm bells over section 899 of President Donald Trump’s proposed “big...[Read More]
Surprise data shows inflation falling to four-year low
26 June
Inflation has fallen to a seven-month low, bolstering hopes of an imminent cut to interest rates. Data from the Australian Bureau of Statistics on Wednesday showed headline inflation fell from 2.4 per cent to 2.1 per cent in May. The monthly figures...[Read More]
Businesses and consumers caught between opposing forces
12 June
Will a second rate cut be enough to settle the nerves of businesses and consumers spooked by global trade uncertainty? Donald Trump’s tariffs have weighed on sentiment in recent months, stifling an expected economic recovery in 2025. Household...[Read More]
Weak business investment underlines productivity battle
5 June
Australia’s dire productivity performance doesn’t look like rebounding any time soon, with troubling implications for the Reserve Bank’s interest rate path. Data released on Thursday reinforced the challenge the nation faces to get...[Read More]
Restaurants on the brink as business failures plateau
29 May
The future of many businesses struggling to stay afloat rests upon the Reserve Bank and Donald Trump. Business conditions in Australia remain perilously difficult, with insolvency levels at record highs in April, CreditorWatch reported in its...[Read More]
Egg, housing costs might fry hopes of earlier rate cut
29 May
A jump in the cost of building and renovating homes is not helping the case for more rate cuts. Headline inflation remained steady at 2.4 per cent in the 12 months to April, the Australian Bureau of Statistics reported on Wednesday. But the result...[Read More]
Full extent of Trump’s tariff slap on economy revealed
22 May
Australia’s economy will take an $8 billion dollar hit in 2025 as a result of Donald Trump’s tariffs, the Reserve Bank estimates in updated economic forecasts. Inflation is also expected to come in lower than it otherwise would have, the RBA’s...[Read More]
‘Sustainable’: push to keep low-paid from falling back
22 May
Treasurer Jim Chalmers wants to ensure Australia’s lowest paid workers don’t go backwards, but stresses a real wage rise must not harm the economy. In its formal submission to the Fair Work Commission’s annual review of minimum and award...[Read More]
Trump’s tariff ‘rollercoaster’ raises recession risk
22 May
Australians are being assured the nation is well-placed to avoid a recession as the Reserve Bank expresses alarm over Donald Trump’s trade war “rollercoaster”. Forecasts released by the Reserve Bank of Australia have painted a bleak picture of...[Read More]
Money still on rate cut despite surprise spike in wages
15 May
Economists still expect the Reserve Bank to cut interest rates at its next board meeting despite a surprise spike in wage growth. Wages rose by a higher-than-expected 3.4 per cent over the year to March, Australian Bureau of Statistics figures...[Read More]
Living costs rising despite cooling inflation
8 May
Australian households who depend on government payments have faced the highest increases in living costs this year, new data shows. Age pensioners and other recipients of government help faced 1.6 per cent higher living costs in the March quarter,...[Read More]
Full steam ahead for cash rate cut as inflation settles
1 May
Interest rate relief could come within weeks after a higher than expected inflation print still fell within the Reserve Bank’s target range. Underlying inflation fell to 2.9 per cent in the year to March and headline inflation held steady at 2.4...[Read More]
Rate cut on horizon amid fears of more stock turmoil
24 April
Investors tormented by weeks of tariff turmoil will hope for a quiet return from Easter as mortgage holders eye a rate cut on the horizon. Stocks in Australia and the US have clawed back ground in the past fortnight after US President Donald Trump...[Read More]
Tariff turmoil triggers Reserve Bank inflation fears
17 April
The threat of Donald Trump’s tariffs loomed large over the Reserve Bank as it made the call to keep interest rates on hold, warning that US measures could lead to higher inflation. Minutes from the central bank’s April 1 meeting, released on...[Read More]