News
RBA’s Andrew Hauser not so sure US dollar has lost ‘safe haven’ reputation
3+ hour, 21+ min ago (338+ words) The news: RBA deputy governor Andrew Hauser has cast doubt on the notion that the US dollar's reputation as a "safe haven' asset is greatly diminished, noting there is "little sign" of a persistent decline in security, it remains liquid…...
Household spending rises 0.3% in January: ABS
1+ day, 23+ hour ago (233+ words) The news: Australian household spending saw a 0.3% increase in January, according to figures released by the Australian Bureau of Statistics. Meanwhile, the seasonally adjusted international trade balance on goods decreased by $742 million in January. The context: The modest growth in…...
Chalmers writes to ACCC over surging fuel prices amid Middle East conflict
3+ day, 16+ hour ago (162+ words) The news: Federal Treasurer Jim Chalmers has written to the Australian Competition and Consumer Commission (ACCC) to ask it to monitor fuel prices amid escalating conflict in the Middle East. The numbers: Global crude benchmark Brent has risen more than…...
‘First of its kind’: WiseTech’s sweeping job cuts signal brutal truth for the AI era
1+ week, 2+ day ago (421+ words) WiseTech's move to slash 2,000 jobs or nearly a third of workforce signals a brutal reality for anyone anxious about artificial intelligence. More job cuts are coming, and the market doesn't mind it when it sees them. Shares in the beleaguered…...
Why the economy can’t get out of second gear
2+ week, 4+ day ago (178+ words) Australia's economy is like a car struggling to reach 30 kilometres an hour. Push it to 40 and the strain becomes obvious " much like my first car, a brown Datsun 200B that needed a service every time it was driven too hard. Productivity…...
Treasury quietly cuts consumer data right team in half
2+ week, 5+ day ago (129+ words) Treasury quietly cuts consumer data right team in half'Capital Brief Treasury has quietly slashed in half the team managing its high-profile consumer data right (CDR) program, despite repeatedly saying it is committed to rolling it out to more industries The…...
US inflation drops to 2.4% in January
3+ week, 4+ hour ago (224+ words) The news: US inflation fell more than expected in January, prompting investors to increase bets on the Federal Reserve cutting interest rates as price pressures ease. The numbers: Data from the Bureau of Labor Statistics saw the consumer price index…...
Andrew Hauser defends RBA staying tight-lipped on govt spending
3+ week, 2+ day ago (487+ words) The news: Reserve Bank deputy governor Andrew Hauser has defended the central bank's decision to hold back on publicising opinions about the federal government's spending levels and any impact on inflation. And he said the big debate continues to be…...
China’s CPI cooled in January as ongoing factory deflation slows
3+ week, 2+ day ago (112+ words) The news: China's consumer price index lifted by 0.2% year on year over January, below the 0.8% increase in December and slower than the 0.3% expected as the country continues to grapple with deflationary pressures from excess supply. The numbers: The data was…...
Our growth has hit the speed limit set by weak productivity
3+ week, 4+ day ago (207+ words) If it wasn't clear before last week's Reserve Bank rate hike, it surely is now " Australia's economy is supply-constrained, and its sustainable growth "speed limit' is much lower than in the past due to weak productivity. Only a modest upswing,…...