Australia is on track to win its brutal and long-running war against inflation earlier than expected, Treasurer Jim Chalmers has predicted, paving the way for interest rate cuts. Two years after the Reserve Bank began hiking the official cash rate, slamming mortgage holders with 13 increases and adding thousands ofContinue Reading
A leading economist has proposed a bold plan to finally solve Australia’s housing woes – and a country nearby has done something similar with great success. Cameron Murray, chief economist at Fresh Economic Thinking and author of the new book The Great Housing Hijack, said the model doesn’t need toContinue Reading
Australians are being warned to prepare for a shrinking economy, with Treasurer Jim Chalmers cautioning he expects highly anticipated GDP figures will be “quite weak”. Speaking ahead of key national account figures to be released on Wednesday, the Treasurer said he expected global uncertainty, elevated inflation and tightened monetary policyContinue Reading
Australians hoping for a Christmas present from the government will be left wanting, despite a bumper tax take cushioning the budget bottom line. Treasurer Jim Chalmers celebrated the release of the Mid-Year Economic and Fiscal Outlook on Wednesday, announcing the budget deficit has been slashed to a razor thin $1.1bn.Continue Reading
Households are likely set for a rates reprieve when the Reserve Bank board meets on Tuesday afternoon for its final cash rate call with governor Philip Lowe at the helm. With inflation easing and consumer spending deteriorating, markets anticipate the cash rate will be kept on hold at 4.1 perContinue Reading
Plunging company profits and weak household spending data all but confirm that the Reserve Bank will continue its rates reprieve when it meets on Tuesday. The meeting of the RBA board will be outgoing governor Philip Lowe’s last. Fresh data from the Bureau of Statistics showed that while workers’ payContinue Reading
Australia’s share market has had a depressing end to the week, slumping by over half a percentage point after two record-high days. The ASX200 closed lower on Friday, dropping 52.30 points or 0.70 per cent to 7,403.60. The fall came after two consecutive days where a new 100-day high wasContinue Reading
A myriad of economic factors have economists split over whether the Reserve Bank will on Tuesday hike up interest rate rises for the 13th time since last May. Inflation is trending downwards on a better than expected trajectory, but with a stronger than anticipated rebound in housing prices and aContinue Reading
A myriad of economic factors have economists split over whether the Reserve Bank will on Tuesday hike up interest rate rises for the 13th time since last May. Inflation is trending downwards on a better than expected trajectory, but with a stronger than anticipated rebound in housing prices and aContinue Reading
Australians already grappling with increased mortgage repayments or rent hikes and high consumer prices can expect to pay more on a range of bills in the second half of the year. Health insurance premiums, phone plans and energy bills for some households are all about to become more costly, andContinue Reading