Economy
Australian economy builds as investment roars back
3 December
Surging investment in data centres and housing has driven Australia’s economic growth rate to its fastest pace in two years. The nation’s gross domestic product grew by 2.1 per cent over the year to September, the Australian Bureau of Statistics...[Read More]
Chinese economic slowdown at top of RBA’s mind
3 December
The Reserve Bank head says a wobble in the Chinese economy is top of the central bank’s mind, shortly after forecasters downgraded growth prospects for Australia’s largest trading partner. RBA governor Michele Bullock said a slowdown in China...[Read More]
Shoppers tap credit to fund record Black Friday sales
3 December
Australians are set for a record spend on the Black Friday weekend, but it appears they are banking on credit cards to cover the costs. Bargain shoppers are expected to drop $6.8 billion over the Black Friday-Cyber Monday weekend, a four per cent...[Read More]
Uni debts slashed for more than one million Australians
3 December
Half of all Australians with a student debt have had their loans slashed by 20 per cent. The Australian Taxation Office will automatically apply the one-off reduction, with a further 1.5 million people to receive the cut by the end of next week. In...[Read More]
‘Very positive news’: ray of light post inflation shock
3 December
Australia’s economy has been delivered a welcome bit of good news just a day after nightmare inflation figures raised the spectre of interest rate hikes. For more than a decade, stagnant business investment has contributed to Australia’s...[Read More]
New inflation reporting has the Reserve Bank excited
26 November
Wednesday was a momentous day for stats nerds. The Australian Bureau of Statistics released the nation’s first complete monthly consumer price index publication, bringing the nation in line with peer economies and giving the Reserve Bank a more...[Read More]
AI could push up the RBA’s neutral interest rate level
26 November
Artificial intelligence could push up Australia’s neutral interest rate level, making it harder for the Reserve Bank the lower rates further. The whereabouts of the neutral rate – the interest rate level that neither slows down nor speeds up the...[Read More]
Inflation surges as energy rebates run out of gas
26 November
Surging inflation has dashed hopes of one last rate cut and heightened expectations energy rebates will be extended. Expiring electricity subsidies helped drive up the annual consumer price index from 3.6 per cent to a 16-month high of 3.8 per cent...[Read More]
Invest or lose: Australia’s billion-dollar AI warning
26 November
Australia could miss out on a $150 billion boost to its economy if it fails to invest in artificial intelligence, including sovereign AI models, regional hubs, training and infrastructure. But decisive investments in the technology could deliver an...[Read More]
Australian economy ‘island of security’ in risky seas
19 November
The nation’s economy is an “island of security” says Treasurer Jim Chalmers despite less certainty about interest rate cuts among economists after stronger-than-expected jobs data. Dr Chalmers hailed low unemployment in a speech to investors...[Read More]
Wages growth running out of steam after inflation spike
19 November
A reawakening of the inflation dragon is not expected to end Australian workers’ record run of real wages growth just yet. Pay packets are expected to have grown in real terms for an eighth consecutive quarter in September, the Australian Bureau...[Read More]
Insight on cash rate pause as economy runs at capacity
19 November
The Reserve Bank will shed further light on its decision to deny homeowners a further rate cut when it releases minutes from its last meeting earlier in November. Australia’s central bank kept interest rates on hold at 3.6 per cent after the...[Read More]
Rate cut hopes evaporate with healthy jobs figures
19 November
Hopes of more interest rate cuts have taken a hit after Australia’s unemployment rate plunged, reinforcing beliefs of a tight jobs market. Bonds traders lowered the odds of another Reserve Bank interest rate cut on Thursday and the ASX fell to its...[Read More]
Interest rate cuts might have less impact than thought
12 November
Changes to interest rates could have less of an impact on household spending than traditionally thought, which means the Reserve Bank might have to hike or cut harder to achieve its aims. Despite the RBA hiking interest rates in one of its sharpest...[Read More]
No smoking gun to link deposit scheme, home price spike
12 November
Property prices grew at the fastest rate in more than two years following the federal government’s expanded deposit guarantee scheme kicking in, but there is not enough evidence of a direct link between the two, housing experts say. Home values...[Read More]