Australia’s jobless rate held steady in May despite a dip in the number of unemployed and a marginal fall in the participation rate, fuelling hope of further rate cuts.
Daniel Newell
Escalating Middle East tensions pose the threat of renewed cost of living pressure just as the Reserve Bank turns attention to easing interest rates and boosting the sluggish economy.
Matt Mckenzie
Insolvency experts have warned that Western Australia looks set for a surge in business collapses as the Australian Taxation Office clamps down on ageing debts.
Surging government borrowing across the world could push up interest rates and investors have been told to brace for repeats of the April volatility sparked by Donald Trump’s trade chaos.
The Big Four bank has made its prediction on when mortgage-holders are likely to get the next rate cut, and it defies market expectations.
The State Government’s energy transition planning has been graded an F by industry lobbyists amid warnings time is running out to build new power lines and get ready for the closure of coal.
Australia’s economy is stuck in the slow lane as families and businesses remain reluctant to splash cash, just as the binge of government spending unwinds.
Australia has been among the worst hit developed nations by a global slowdown in business investment that will damage growth, international experts at the OECD say.
The RBA picked the ‘path of least regret’ through global trade instability by cutting interest rates in May, minutes from the meeting show.
Australian families are expected to save almost $10bn a year from the RBA’s two interest rate cuts but economists are warning the housing market will be supercharged by further relief.
Flat retail sales in April could force the Reserve Bank to provide additional rate cuts sooner than expected, economists say, after back-to-back public holidays failed to lift spending.
Cheyanne Enciso
The latest reading on inflation has defied predictions from economists of a fall deeper into the Reserve Bank’s comfort zone.
Former RBA governor Philip Lowe is worried Australia’s prosperity is at risk from political failures to fix productivity and the global move away from free trade.
St Georges Terrace and West Perth have been wagered to lead the nation in terms of workforce growth, but Deloitte has warned an outwardly healthy jobs has masked abysmal productivity performance.
Simone Grogan
Rob Scott has urged the Federal Labor Government to take advantage of a ‘once in a generation’ chance to fire up Australian investment and wages.
Fears about President Donald Trump’s trade agenda have been reignited after threats of a 50 per cent tariff on the European Union and a tax on offshore production of Apple iPhones.
Bloomberg
There is ‘striking confidence’ in China that the country can win a trade war with the United States, Reserve Bank deputy boss Andrew Hauser has revealed.
Nearly 10 per cent of WA hospitality businesses have shut in the past year, according to new data, as they bear the brunt of weak consumer demand amid persistent cost-of-living pressures.
Analysts have warned the Reserve Bank may wait before pulling the trigger on another interest rate cut, despite governor Michele Bullock’s soft tone on Tuesday sparking expectations of rapid-fire relief.
The Reserve Bank is expecting inflation will remain under control for the next two years but there’s a new economic threat looming.
It’s a cut! A second dose of mortgage relief is on the way for Aussie borrowers after the Reserve Bank lowered interest rates 0.25 percentage points.
The Reserve Bank is widely tipped to cut interest rates on Tuesday despite an easing of trade war tensions and strong jobs growth.
Treasurer Jim Chalmers has promised that an above-inflation pay rise for millions of Aussie workers will not worsen consumer prices.
An exceptional month of Australian jobs growth has sparked warnings of an inflation bounce, but an interest rate cut next week is still seen as highly likely.
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