NEWS UPDATE
NEWS UPDATE
Australian households are the most persistently pessimistic they have been since the early-1990s recession, after a fourth Reserve Bank rate rise. Following the RBA’s decision to lift interest rates to the highest level since 2011, confidence among Australian consumers plunged about 20 per cent, according…
Australian businesses will need time to adjust to the new ban on card surcharges as the major banks prepare for a potential merchant fees war. The change, driven by the central bank to give consumers transparency at the till, only came into effect on Thursday….
Home buyers are holding off to see where the falling Australian housing market lands as high interest rates, stubborn living costs and federal tax changes weigh on valuations. After a strong financial year of loan growth at People First Bank – Australia’s largest customer-owned bank…
Australia is set to fall further behind on its bid to build 1.2 million new homes in five years. Less than two years in, the nation is already more than 100,000 homes short of schedule. The deficit is unlikely to be narrowed when the Australian…
Cash-strapped borrowers are being warned of more hikes to come by the Reserve Bank of Australia after it lifted interest rates to a 15-year high. In a unanimous decision, the central bank’s nine-member board lifted the cash rate target by 25 basis points to 4.6…
Australia’s annual headline inflation rate has climbed to four per cent as higher oil prices continue to filter through the economy. The consumer price index rose 0.4 per cent in August, the Australian Bureau of Statistics reported on Wednesday, a day after the Reserve Bank…
Australians are willing to cut back their spending in record numbers to afford a property, affirming the ongoing value of home ownership, new data shows. More than 75 per cent of residents were willing to cut their spending back to afford a home, a Cotality…
Because everyone wants your money, you can charge them more for it. That’s the issue facing governments forced to pay investors more for borrowing cash in the form of bonds. The eye-watering sums being raised by artificial intelligence “hyper-scalers” now mean there’s a flood of…
Australia’s unemployment rate probably needs to edge a little higher to help get inflation back under control, Reserve Bank governor Michele Bullock says. Prefacing her remarks by saying the RBA does not want to see high unemployment, Ms Bullock told a business event on Tuesday…
Anthony Albanese will make the case to Donald Trump for more guardrails to be placed on AI, ahead of a potential meeting with the US president on the sidelines of the United Nations. The prime minister will be in New York for the UN General…
Mum and dad investors are increasingly using artificial intelligence to inform their stock market decisions in a fast-moving investment environment. Just under half, or 48.6 per cent, now use AI tools when planning where to place their hard-earned money, according to a survey by stockbroking…
Economists at one of Australia’s big four banks expect the Reserve Bank to raise interest rates imminently after the central bank’s governor issued a dire warning about inflation. Michele Bullock told a parliamentary hearing in Canberra that it appeared that inflation was worse than the…
A global financial body has given the Reserve Bank the green light to hike interest rates and urged Treasurer Jim Chalmers to be bolder on tax reform. With a break-out in price growth hitting Australians’ living standards, returning inflation to target in the near term…
The rising cost of oil and iPhones is concerning the Reserve Bank of Australia as it approaches a crucial interest rate decision, the central bank’s chief economist says. With rising inflation pressures from the Middle East and more broadly around the globe, the Reserve Bank…
Changes to property tax breaks in the federal budget are working, the housing minister says, as data shows most home vendors are still making massive profits despite a downturn. Clare O’Neil brushed off figures from the Housing Industry Association showing a 10 per cent fall…
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