Economy
Jobs data tops economic agenda as Iran war re-escalates
23 July
Jobs data is expected to show ongoing resilience in Australia’s labour market but renewed conflict in the Middle East could bring more bad news for the domestic economy. The unemployment rate is expected to hold steady at 4.4 per cent in June...[Read More]
How trust in the RBA could help keep interest rates low
23 July
As people lose faith in institutions across the globe, a report shows maintaining trust in the Reserve Bank can help keep inflation under control. A survey released by the central bank on Wednesday showed people who have higher trust in the RBA are...[Read More]
Trump threatens to shoot down signs of economic rebound
16 July
Just as businesses and consumers were beginning to grow more confident, a return to arms in the Middle East risks sending sentiment back to the doldrums. Business confidence climbed nine points in June, despite warnings the federal budget would...[Read More]
Tax push renders budget surplus forecasts ‘unrealistic’
16 July
More tax cuts for workers would keep the budget in deficit beyond the next decade, the agency that assesses the nation’s finances warns. The outlook for the federal budget has improved over the past year, despite economic headwinds from the Middle...[Read More]
Inflation-fuelling supply shocks under RBA microscope
9 July
Expect to hear more from the Reserve Bank as it grapples with how to navigate a world punctuated by more frequent supply shocks due to heightened geopolitical tensions and climate change. With shocks like the Middle East oil crisis and Donald...[Read More]
Longest stretch of weak growth since 1990s forecast
9 July
Australia’s economy is set to grow below two per cent for the longest period since the early 1990s, exposing a malaise long masked by population growth, a report has warned. Rarely has the economics advisory group adopted such a downbeat...[Read More]
Weak housing market could imperil Australia’s economy
2 July
The Reserve Bank is worried Australia’s economy could be weakened by a housing market slowdown accelerated by the federal budget, a readout of its last interest rates meeting shows. The central bank’s monetary policy board voted unanimously to...[Read More]
Tax cuts, pay rises and text message changes on the way
2 July
WHAT IS CHANGING ON JULY 1? * About 2.7 million workers on award wages will get a 4.75 per cent pay bump, while workers on the minimum wage will get a six per cent pay rise, following a Fair Work Commission decision * Workers will also receive super...[Read More]
Freefall: home prices notch biggest drop in years
2 July
Home prices have recorded the biggest monthly fall in almost four years as tax changes accelerate Australia’s housing downturn. Sydney’s median home price fell 1.2 per cent to $1,265,608 in June, leading a nationwide decline of 0.4 per cent,...[Read More]
Strong jobs figures clock on for future rate rise shift
2 July
Stronger-than-expected jobs and spending data has bolstered the case for more rate hikes, but events overseas could stay the Reserve Bank’s hand. An extra 40,300 jobs were added to the economy in May, driving down the unemployment rate to 4.4 per...[Read More]
Treasurer responds after budget attack by ex-RBA head
1 July
The treasurer has hit back at attacks to budget tax changes from a former Reserve Bank governor after the contentious laws passed parliament. Ex-RBA governor Philip Lowe said changes limiting negative gearing and the capital gains tax discount would...[Read More]
Inflation lying in wait to strike another rate blow
25 June
Australia’s inflation pulse is strengthening despite easing prices at the fuel bowser, potentially adding to the case for another interest rate hike. A mixed consumer price report, released by the Australian Bureau of Statistics on Wednesday, was...[Read More]
Australian economy ‘drifting’ despite natural gifts
25 June
Australia has the resources it needs to be a globally prosperous economy, but it is failing to convert those assets into meaningful growth, a think tank says. Abundant renewable energy, critical minerals, a world-class research sector and ties to...[Read More]
Labor identifies businesses to be exempt from new tax
25 June
A budget backlash has prompted Labor to announce new carve-outs for innovative firms from the capital gains tax, as well as a backdown on a minimum tax on testamentary trusts. WHAT DID LABOR ANNOUNCE IN THE BUDGET? * The existing 50 per cent...[Read More]
What Labor agreed to in order for tax change support
25 June
WHAT THE GOVERNMENT WANTS PASSED * Laws stemming from the federal budget would limit negative gearing to new builds from July 2027, while scrapping a 50 per cent discount on the capital gains tax and replacing it with a minimum 30 per cent rate tied...[Read More]