Aussies are being urged to stop splashing cash on “Netflix, flat-whites, movies and eating out” to trigger a “DIY recession” that will save us from years of pain. The extraordinary call from Rand Low, an Associate Professor of Quantitative Finance at Bond University, comes amid resurgent inflation in Australia, warningsContinue Reading
An Australian bank has hiked interest rates for fixed and variable mortgages, days before the RBA convenes for its March meeting. Mortgage holders were given a brief reprieve over the past month with the RBA putting a pause on increasing the cash rate target at its February meeting. Despite this,Continue Reading
Prime Minister Anthony Albanese faces growing fury over the cost of living and Labor’s response to the Israel-Gaza conflict as he returns to Canberra following a whirlwind global diplomatic stint. Mr Albanese’s return to parliament comes after tens of thousands gathered across major cities over the weekend, with large pro-PalestinianContinue Reading
Treasurer Jim Chalmers has warned the government will have to cut back on some infrastructure projects to help trim inflation. Economists from the International Monetary Fund (IMF) urged the federal government to scale back on its record $30bn a year of public infrastructure spending, warning the economy was running farContinue Reading
More than one in four Australians do not have any savings in their bank accounts, while more than two-thirds are in debt, a shocking new survey suggests. The troubling figures come during a period of relative economic strength with unemployment below four per cent, but suggest cost of living pressuresContinue Reading
The Australian share market was dragged lower on Wednesday after an overnight tech rout on the Nasdaq weighed heavily on the local benchmark. The S & P/ASX 200 was down 53 points, or 0.7 per cent, to close at 7,153.9 points. The broader All Ordinaries fared worst, dropping 57.3 points,Continue Reading
Economists say whether or not the Reserve Bank of Australia raises interest rates one more time after their monthly board meeting next week or not, Aussies will feel the pain for months to come. Australia’s central bank has hiked interest rates every month since May last year, with the exceptionContinue Reading
The Australian share market has continued its winning streak, topping its 100-day high only set one day ago. The S&P/ASX200 closed up Thursday, gaining 53.90 points or 0.73 per cent to 7,455.90, beating Wednesday’s already impressive figures. The market galloped out of the gate after opening, retaining its momentum forContinue Reading
Reserve Bank of Australia executives have warned there are significant risks to remaining on the tightrope the central bank is walking in its mission to curb inflation without tipping the nation into a recession. The minutes from the RBA’s June board meeting, published on Tuesday, revealed its members believe theContinue Reading
More than half of Australians want Philip Lowe’s tenure as Reserve Bank governor to come to an end, a new poll has revealed. As homeowners across the country buckle under the weight of 12 interest rate rises in 13 months, a poll for the Nine newspapers suggest Australians are atContinue Reading