NEWS UPDATE
NEWS UPDATE
The Reserve Bank of Australia faces growing pressure to raise interest rates again on November 3 after core inflation climbed one per cent in the latest quarter. The September quarter increase in the trimmed mean was in line with economist expectations but exceeded the central…
Australians are literally losing sleep over global warming, an international report has revealed, as rising temperatures make it harder to rest, exercise and work outdoors. Climate change is also costing the Australian economy $6.6 billion a year in potential lost earnings, while contributing to more…
Funding for renewable energy projects, electric vehicle subsidies and social housing will be slashed under a future coalition government to pay for income tax cuts. The proposed savings would add $31 billion to the federal budget bottom line, more than paying for the proposal to…
Australia has just recorded a house price slump the likes of which it has only ever seen twice, but the government has urged home-owners to keep the faith. Weakened buyer confidence has driven house prices down across every capital city for the first time in…
Australia has paid more than twice as much as any other nation in additional diesel import costs during the global fuel crisis, with a report putting the toll at $9 billion over six months. The added cost equates to $324 for every Australian, exceeding the…
Mortgage holders can expect interest rates to stay higher for longer, whether or not the Reserve Bank raises them again on Melbourne Cup day. The RBA has been warning that the intense competition for global capital among artificial intelligence and data centre companies is pushing…
The GST should be raised and expanded to include more products in an attempt to pay down Australia’s ballooning national debt, a respected think tank has urged. The Grattan Institute has called for the federal government to lift the GST rate from 10 per cent…
The cost of building a new home has re-accelerated as the Middle East oil crisis continues to impact the industry. Construction costs increased 3.2 per cent in the 12 months ended September, up from 2.8 per cent in 2025/26, Cotality’s latest Cordell Construction Cost Index…
Businesses will get a chance to air their grievances over Labor’s proposed tax on discretionary trusts, which they warn could set them back billions of dollars in restructuring costs. In a bid to placate the business community by offering a workaround for small firms to…
Unemployment data will give the Reserve Bank an idea of how its interest rate hikes are affecting Australia’s economy, as a readout of its last meeting informs economists of its thinking. The Reserve Bank’s decision to raise the cash rate to 4.6 per cent in…
Inflation is expected to stay above the Reserve Bank’s target range until the end of 2027, with only six other developed countries having a higher rate than Australia’s. The extended period of high inflation has left the door open for more interest rate hikes. Australia’s…
Homes are likely to keep getting cheaper for about a year, but the downturn in house prices has not been replicated in rentals. Property prices are tipped to fall between eight and 11 per cent from their March peak and will only start to recover…
Australians face “recession-like” conditions as the nation’s increasing reliance on population growth over productivity catches up with policy-makers. The economy is likely to avoid a technical recession, defined as two consecutive quarters of contraction, but it won’t feel like it to Australian households, Deloitte Access…
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…
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…
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