Economy yet to shake malaise as growth misses forecasts

4 December

Australia’s economy is still growing – but only just – though economists are unconvinced the weaker-than-expected data will bring forward keenly-anticipated interest rate cuts. Full-year growth fell to 0.8 per cent in September, down from one...[Read More]

Christmas rate cut hopes slayed as inflation holds firm

27 November

Australia’s inflation rate may have undershot expectations to hold at the bottom of the central bank’s target band but borrowers should not expect interest rate cuts just yet. The annual headline inflation rate has held at 2.1 per cent in...[Read More]

Annual inflation rate hangs on at 2.1 per cent

27 November

Australia’s annual headline inflation rate has held at 2.1 per cent in October for a second month, coming in a little below expectations. Despite clocking a second month at the bottom of the Reserve Bank of Australia’s two-three per cent target...[Read More]

‘Surprise’ budget windfalls drying up, economists warn

27 November

Australia is waving goodbye to budget surpluses and returning abruptly to deficit, facing a $49 billion deterioration in the bottom line as per forecasts from leading economists. The $15.8 billion surplus logged in the last financial year to...[Read More]

Consumer confidence rebound wobbles following Trump win

13 November

A second Donald Trump presidency has dented an otherwise confident outlook for Australian consumers, buoyed by improving finances and the diminishing likelihood of interest rate hikes. Pessimists still outnumber optimists in the Westpac-Melbourne...[Read More]

Inflation eases to 2.8 per cent in September quarter

30 October

Australia’s annual inflation rate has returned to the range targeted by the central bank, clocking in at 2.8 per cent in the September quarter. The headline annual rate was down a whole percentage point from the June quarter and landed broadly in...[Read More]

Petrol and energy relief drag headline inflation lower

30 October

Cheaper fuel and energy bill relief have helped drag headline inflation down to its lowest rate since early 2021. A 2.8 per cent rise in the September-quarter consumer price index marks a return to the Reserve Bank’s target range of two to three...[Read More]

Pandemic cash splash let inflation genie out of bottle

30 October

Unnecessary COVID-19 spending and Reserve Bank delay in lifting interest rates significantly worsened inflation, a review of Australia’s pandemic response finds. While supports like JobKeeper and HomeBuilder were desperately needed and an...[Read More]

Stage three tax cut spending spree yet to surface

17 October

Tax cuts don’t appear to be fuelling shopping sprees, with transaction data suggesting extra take-home pay is going towards staples and paying down debt. Footy finals were the only bright spot in an otherwise glum September for spending, with...[Read More]

Debit card surcharges could be scrapped in crackdown

16 October

Surcharges for payments made by debit card could soon be dumped, but business groups have warned there might be unintended consequences for consumers. The federal government said it was prepared to ban debit payment surcharges by 2026, pending a...[Read More]

Spring brings brighter outlook as rate hike fears fade

9 October

Consumers can see light at the end of the tunnel as fears of further interest rate hikes fade. As signs of improving consumer and business confidence emerged, minutes from the Reserve Bank of Australia’s last meeting confirmed the case to lift...[Read More]

Power subsidies and cheaper petrol drive down inflation

25 September

A drop in inflation has been welcomed as a small respite for struggling shoppers but households are being warned prices are set to bounce around and not come down in a straight line. Inflation cooled to 2.7 per cent in the 12 months to August, down...[Read More]

Hints on state of economy as cost relief kicks in

24 July

Experts will scour the first trickle of financial data for early clues on the state of Australia’s economy since tax relief kicked in. The purchasing managers’ indexes for the manufacturing and services sectors land this week, as pay packets...[Read More]

Retail sales rise 0.6 per cent as sales start early

3 July

An early start to end-of-financial-year sales lured in bargain-hunters last month, contributing to a larger-than-expected 0.6 per cent lift in retail sales. The monthly gain beat the 0.3 per cent month-on-month consensus forecast and followed a...[Read More]

Hotter-than-expected inflation leaves RBA in tight spot

26 June

An unexpectedly large jump in the monthly consumer price index is unwelcome news for the Reserve Bank of Australia in its lengthy inflation battle. The monthly consumer price index rose four per cent over the 12 months to May, above expectations and...[Read More]