Falling inflation levels have defied Reserve Bank predictions, alleviating fears another interest-rate hike is imminent. The latest Australian Bureau of Statistics data showed headline annual inflation falling to 3.8 per cent in June, down from four per cent a month earlier. The figure is the lowest level since the outbreak of the US-Iran war in […]
Surprise inflation drop eases chance of RBA rate hikes Read More »
Australia’s fuel security could soon be bolstered by a new refinery, but questions have been raised about the business case for the facility. Prime Minister Anthony Albanese announced plans to look into building Australia’s third oil refinery in WA, with $4 million set aside for a pre-feasibility study. The study would examine locations for the […]
‘Build resilience’: refinery touted but discount to end Read More »
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 smash small businesses through increased taxes on capital gains and discretionary trusts, NAB’s business survey found. […]
Trump threatens to shoot down signs of economic rebound Read More »
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 Trump’s Liberation Day tariffs increasingly becoming the norm, the central bank may have to […]
Inflation-fuelling supply shocks under RBA microscope Read More »
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 assessment of the short-term outlook, Deloitte Access Economics’ Stephen Smith said. While the economy is […]
Longest stretch of weak growth since 1990s forecast Read More »
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 softer and stronger than forecasters had predicted. But the most critical number – the annual trimmed mean – […]
Inflation lying in wait to strike another rate blow Read More »
Reserve Bank governor Michele Bullock has not ruled out hiking interest rates again if inflation keeps rising, after the bank left rates on hold for the first time in 2026. Following three consecutive rate rises, the central bank’s monetary policy board voted unanimously to leave the cash rate steady at 4.35 per cent on Tuesday. […]
RBA keeps rates on hold but leaves door open to hikes Read More »
Australians are working longer hours but it’s not showing up on the productivity scoreboard as levels tumble to a post-pandemic low. The Productivity Commission’s quarterly bulletin reinforces the scale of the challenge confronting Treasurer Jim Chalmers. Breaking down Australian Bureau of Statistics data, the report highlights labour productivity fell by 0.6 per cent in the […]
‘Bad to worse’: productivity sinks to post-pandemic low Read More »
Startups may be able to claim greater tax concessions than initially announced in the federal budget as the government grapples with blowback to its economic reforms. Treasurer Jim Chalmers is in talks with businesses about allowing startups to keep a John Howard-era 50 per cent discount on capital gains tax, Nine newspapers reported on Wednesday. […]
‘Reform is always hard’: PM coy on tax carve outs Read More »
Australia’s economy is going into a slowdown, which will eventually bring inflation under control. That is the view of the Reserve Bank after officials appeared before a senate estimates hearing on Thursday, where they said a decline in momentum in economic growth was not a surprise. GDP grew at 0.3 per cent in the March […]
Officials bank on economic slump helping tame inflation Read More »
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