Treasurer Jim Chalmers is facing criticism for remarks made in an interview about the cost-of-living crisis and painful pressures facing millions of Australians. Speaking with veteran political commentator Michelle Grattan for her podcast on The Conversation, Dr Chalmers implied those struggling will have to wait until next year for relief.Continue Reading
The price of cherries is expected to surge ahead of Christmas as growers lament their worst season in decades. Recent storms wreaked havoc on crops in NSW and SA, slashing some growers’ outputs by up to 80 per cent. More than half of the cherry orchards in the Adelaide HillsContinue Reading
Reserve Bank governor Michele Bullock has dealt a fresh blow to borrowers with a 13th interest rate rise while cautioning that inflation will be higher in 2024 than previously expected. Ms Bullock said Tuesday’s decision to lift rates by 25 basis points to 4.35 per cent was necessary as progressContinue Reading
Sydney’s struggling hospitality sector has been hit by the shock closure of a popular restaurant due to a “selfish” landlord – a trend that critics say is strangling the city’s vibrant culture. After a busy weekend of service, Contessa Balmain closed for good today with a devastating note hung inContinue Reading
While vast parts of the country brace for a sweltering summer, conditions will be especially gruelling for millions of Australians in one area – and things are set to get dramatically worse. Western Sydney is ground zero of an extreme heat crisis that experts warn will cause financial distress, seriousContinue Reading
Outgoing Reserve Bank governor Philip Lowe is set to face his final interrogation in parliament, amid expectations the central bank’s rate hiking campaign may be over. Dr Lowe, incoming governor Michele Bullock, and other senior executives from the central bank are set to front the House of Representatives economics committeeContinue Reading
More pain could be on the way as soaring rents and higher power bills crunch household budgets, with the Reserve Bank warning that their fight against inflation may still have some way to run. The quarterly Statement on Monetary Policy, released on Friday, has seen the Reserve Bank slash itsContinue Reading
It’s been almost two weeks since Treasurer Jim Chalmers announced that Michele Bullock will take over from Philip Lowe as Reserve Bank Governor – and it’s clear she has her work cut out for her. First, Bullock will be tasked with overseeing the Albanese government’s new reforms to the ReserveContinue Reading
A staggering half of all Queenslanders believe they are worse off than 12 months ago as the surging cost of living takes its toll on household budgets. Exclusive polling done by The Courier-Mail and YouGov reveals 50 per cent of voters in the Sunshine state say they are worse offContinue Reading
Experts have revealed one glaring sign that a global recession is fast approaching, with a “big question mark” now hanging over us all. The demand for diesel fuel has long been considered a significant clue regarding the health of the world’s economy, given it is used to power major industriesContinue Reading