economy
‘Green light’ for rate hike as GDP growth surprises
2 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’
2 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
2 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]
‘Hot mess’ inflation result puts rate rise on the table
26 August
More interest rate hikes are on the cards after Australia’s headline inflation rate came in higher than expected, despite falling to its lowest level in eight months.The consumer price index rose one per cent in July, resulting in the annual rate...[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]
Jobs data and a fireside chat: the economic week ahead
19 August
As the US dragged itself out of the Great Depression, newly-elected president Franklin D Roosevelt pioneered an informal style of radio address to nurture rapport with a bruised American public.It’s unclear whether the LED lighting at...[Read More]
Early days but a door is opening for first home buyers
19 August
A dive in new home loans to property investors is an “encouraging sign” Labor’s changes to negative gearing and the capital gains discount are working as intended, Treasurer Jim Chalmers says.The number of investor loans fell 8.6 per cent in...[Read More]
AI boom, productivity malaise making RBA’s job harder
19 August
The surge in artificial intelligence investment and Australia’s sluggish productivity growth rate are forcing the Reserve Bank to keep interest rates higher, a top central bank official says.Speaking two days after the RBA kept the cash rate...[Read More]
‘Hawkish’ RBA open to more hikes after holding rates
12 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]
Households to bear the brunt of sluggish productivity
12 August
Mortgage holders may have been spared more rate pain by the Reserve Bank but Australia’s chronically weak productivity growth means households will continue to suffer.As the RBA board held interest rates steady for a second-straight meeting, it...[Read More]
‘Softer than we thought’: RBA’s admission on inflation
5 August
Surprise inflation data, which came in lower than expected and below the central bank’s own forecasts, was due to softer fuel prices, according to the RBA’s chief economist. Figures released on Wednesday revealed headline inflation for June fell...[Read More]
EV sales, air travel drive rebound in consumer spending
5 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...[Read More]
Surprise inflation drop eases chance of RBA rate hikes
29 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]
‘Build resilience’: refinery touted but discount to end
29 July
Australia’s fuel security could soon be bolstered by a new refinery, but questions have been raised about the business case for the facility. Prime Minister Anthony Albanese announced plans to look into building Australia’s third oil refinery in...[Read More]
How trust in the RBA could help keep interest rates low
22 July
As people lose faith in institutions across the globe, a report shows maintaining trust in the Reserve Bank can help keep inflation under control. A survey released by the central bank on Wednesday showed people who have higher trust in the RBA are...[Read More]