economy-tag-2
Reserve Bank’s grim rates warning as oil prices spike
10 September
The Reserve Bank might have to raise interest rates if inflation is higher than expected as oil prices surge back towards $US100 a barrel.More attacks on oil tankers in the Strait of Hormuz drove Brent crude above $US97 a barrel, which will seep...[Read More]
‘Green light’ for rate hike as GDP growth surprises
3 September
Australia’s economy grew by 2.1 per cent in the last financial year, cementing the odds for another rate rise as the economy proves more resilient than the Reserve Bank expects.Gross domestic product expanded by 0.4 per cent in the June quarter,...[Read More]
Blanket bans on AI could cause ‘data centre panic’
3 September
One-size-fits-all restrictions on how artificial intelligence data centres are powered could send investment in the growing technology overseas, business groups warn.In a submission to a Senate inquiry into AI data centres, the Australian Chamber of...[Read More]
Treasury tips AI as key driver of productivity growth
3 September
Artificial intelligence could be the ticket out of stunted economic growth while risking the future of increasingly high-skilled jobs, according to Treasury advice.In a brief handed to the treasurer, AI has been characterised as a tool which could...[Read More]
Foreign property purchases fall as home buyer ban bites
26 August
Purchases of Australian property by overseas investors have plunged after the government announced a ban on foreigners buying Australian homes.The number of investment approvals fell by more than 22 per cent to 5284 in 2024/25, the Productivity...[Read More]
‘Hawkish’ RBA open to more hikes after holding rates
13 August
The Reserve Bank has left the door open to more interest rate hikes as it held the benchmark lending rate steady for a second straight meeting.Falling house prices and lower-than-expected inflation helped convince the central bank’s nine-member...[Read More]
EV sales, air travel drive rebound in consumer spending
6 August
Australian households show no sign of pulling back on spending despite the Middle East conflict exacerbating cost-of-living concerns.Strong growth in electric vehicle purchases and a bounce back in air travel drove a surprisingly strong 0.8 per cent...[Read More]
Surprise inflation drop eases chance of RBA rate hikes
30 July
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...[Read More]
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]
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 smash...[Read More]
Fresh warnings migration cuts could make housing worse
18 June
Migration opponents are being warned big cuts to Australia’s intake numbers would cause havoc for the economy and impact housing targets.Immigration and housing numbers were out of balance with each other but dramatic cuts were not the solution,...[Read More]