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…
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…
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…
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…
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…
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…
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 into…
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, the Australian Bureau…
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 Commerce and Industry said a source neutral approach was…
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 provide significant productivity gains across the…
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 Commission found in its annual trade and…
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 monetary policy board to leave the cash…
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