News
Cut it entirely: Economists tell Chalmers where to find savings
2+ hour, 45+ min ago (143+ words) AFR With some major cost-cutting already announced via the bulging NDIS, economists tell the treasurer where to find more savings ahead of the budget. With the Federal budget not expected to return to surplus for another decade, Treasurer Jim Chalmers…...
NAB braces for impact as Iran shock collides with lending boom
30+ min ago (119+ words) AFR Business borrowing is flourishing and the bank's growth story is intact. But chief executive Andrew Irvine warns the party is about to get a reality check. Business confidence might be in the toilet, but don't be fooled " Australia's private…...
Will the RBA and Labor double down on inflationary monetary and fiscal policy?
6+ hour, 2+ min ago (112+ words) AFR We are about to find out if our stewards of monetary and fiscal policy are willing to administer the interest rate and spending medicine needed to cut inflation. The next eight days will show how Australia's policymakers respond to…...
RBA holding rates steady to save jobs is the wrong policy
12+ hour, 8+ min ago (101+ words) AFR Until Australia's economic policymakers can articulate how the unemployed labour resources are not the result of deficient aggregate demand, they will remain hostage to ideologues, and those with vested interests. Unemployment is no longer a macroeconomic phenomenon; it is…...
Auctions volumes surge but buyers cautious as rate rise looms
22+ hour, 36+ min ago (94+ words) AFR Buyers retreated as auction volumes more than tripled in the week to Saturday, with a looming interest rate rise fuelling predictions of price declines in Sydney and Melbourne. While listings rebounded to 2529 " up from the 757 recorded during the Anzac…...
RBA must raise rates to lower risk of stagflation
1+ day, 5+ hour ago (75+ words) AFR If Paul Keating walked into a pet shop today, he might find the resident galah squawking about stagflation, the combination of high inflation and weak growth. There's no doubt inflation is too high. Over the year to March, petrol…...
Home prices in Sydney's top market fall 3. 1pc in 3 months
3+ day, 8+ hour ago (95+ words) AFR Interest rate rises are set to push Australia's housing market into a national downturn in coming months, data provider Cotality said after publishing data showing growth in April slowed to 0. 3 per cent, its lowest pace in a year. Sydney…...
US economy rebounds from shutdown to post 2pc growth
3+ day, 12+ hour ago (95+ words) United States economic growth accelerated at the start of the year, bolstered by a massive AI-driven upswing in business investment. Inflation-adjusted gross domestic product increased an annualised 2. .. United States economic growth accelerated at the start of the year, bolstered by…...
Two-year-high inflation blows out government spending programs
4+ day, 5+ hour ago (99+ words) AFR Treasurer Jim Chalmers is preparing to unveil a multibillion-dollar blowout in the May budget in spending programs linked to inflation, such as the aged pension, after annual price rises surged to a two-year high. Annual inflation leapt from 3. 7 per…...
Chalmers burdened by the words he can't say out loud
4+ day, 18+ hour ago (90+ words) AFR The March quarter CPI figures demonstrate how entrenched Australia's inflation problem is ahead of next week's Reserve Bank board meeting. Jim Chalmers has a favourite new word to describe next month's budget. It will be "responsible, the treasurer kept…...