Today
Chalmers reveals another tax revenue upgrade
Treasurer Jim Chalmers has flagged the mid-year update will paint a healthier-than-expected picture of the budget due to a rise in the tax take.
Yesterday
RBA hoses down early-2025 rate cut hopes
The Reserve Bank board has signalled that a rate cut in either February or April is highly unlikely, saying it needs to see more than one quarter of inflation data.
- Updated
NSW braces for Trump trade turbulence and bond market shocks
The state’s treasurer has warned an erosion in free trade could make Australians poorer, as the incoming administration weighs imposing costly tariffs.
This Month
‘Unhelpful’ governments driving up interest rates: BCA
Governments should put hard caps on spending growth to rebuild their finances, preventing the public sector from pushing up inflation, the Business Council says.
The amount you need to put down for a home deposit is rising fast
Owner-occupiers looking to upgrade now need to stump up a $300,000 deposit, with high interest rates forcing some owners to sell and young people to seek help from mum and dad.
Chalmers warns against Dutton comeback as interest rate hopes fade
Capital Economics became the latest forecaster on Friday to push back their forecast for the RBA’s first cash rate cut beyond the next election.
Victoria’s debt interest bill surges by 28pc
The state’s debt has jumped by $7.4 billion since June and $20 billion in the last 12 months, according to Treasury’s latest quarterly financial report.
Stage three tax cuts to be eliminated by bracket creep: PBO
The budget watchdog estimates the benefits of the tax cuts will be gone by the end of the decade as bracket creep drives personal income tax rates to a record.
Albanese increasingly likely to face voters without a rate cut
NAB and RBC Capital Markets now expect the RBA to leave the cash rate on hold until May, after the latest practical date for an election.
- Updated
Public servant wages outpace private for the first time since 2020
Annual wage growth fell to 3.5 per cent in September from 4.1 per cent in June, as pay growth slowed on the back of a cooling economy.
- Updated
Consumer confidence hits 2½-year high as rate rise fears ease
Despite the lift in sentiment, households may need to wait another seven months before receiving mortgage relief.
Seven charts that show the mystery of Australia’s cash hoard
As cash use plummets in Australia, banknotes linger – stashed for emergencies, savings, or used in black-market trade.
- Updated
- Opinion
- Leading Indicators
Inside Canberra’s hidden $180b spending boom
Australia’s budget numbers are increasingly a mirage as billions in spending are labelled as ‘investments’ to improve the fiscal optics.
Trump’s China tariffs ‘could bring forward RBA rate cuts’
While KPMG has warned a global trade war could force the RBA to lift rates, other analysts think Trump’s tariffs could push inflation lower in Australia.
Public servant wages rise to $232b at fastest pace in 15 years
UBS chief economist George Tharenou said public sector wages had more than doubled since 2008-09, keeping upward pressure on interest rates.
HSBC copped RBA ban after private briefing leaks
The revelations mean HSBC is the fourth bank to have hosted a private briefing with RBA officials that breached confidentiality requirements.
Trump trade war could force the RBA to jack up rates
KPMG modelling shows that inflation could take off if China retaliates against Donald Trump’s tariffs, while Australia’s mining sector could suffer a $12b export hit.
- Updated
Markets push rate cut bets beyond the next election
Investors now expect the RBA to leave the cash rate on hold until July 2025, raising the possibility Labor could fight an entire campaign without a rate cut.
These five charts show why the RBA isn’t ready to cut rates
High inflation, a still-strong jobs market and flat-lining productivity continue to dissuade Reserve Bank governor Michele Bullock from providing relief to borrowers.
Don’t stoke inflation with big spending promises: Bullock
Michele Bullock warned another interest rate rise was still a possibility, as the RBA conceded it had been surprised by the large rise in government spending.
- Updated