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Economy

Today

There is still time for savers to secure a good deal.

The three habits helping Australians build the most wealth

Amid record levels of economic inequality in Australia, a respected survey of household trends shows how average people are building their savings.

Yesterday

“China is a great power, and China will keep doing what China is doing,” Penny Wong said sanguinely

Wong should have sent a stronger message about China and US uncertainty

The foreign minister missed an opportunity to be firm about the challenges from Beijing and the US, and Australia’s defence.

Keynote from Andrew Hauser, Deputy Governor, Reserve Bank of Australia.

The charts that underlie the RBA’s inflation fear

There are two big risks dominating the inflation outlook, central bank deputy governor Andrew Hauser told the Financial Review Business Summit.

RBA deputy governor Andrew Hauser said the central bank was convinced to cut rates by one key chart presented to the board.

The secret chart the RBA used to justify its latest rate cut

The central bank’s deputy governor revealed a previously secret graph that showed inflation would have fallen below target if rates were paused for longer.

Australia’s GDP rate.

Chalmers upbeat but economists warn of shallow recovery

Treasurer Jim Chalmers says the Australian economy has turned a corner after the strongest GDP growth figures since the pandemic, but economists say any recovery will be shallow.

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Schroder, who oversees $365 billion of retirement savings, revealed some startling statistics comparing the American and Australian housing markets and economies.

Housing woes are hurting our living standards

Australia’s big housing problem is contributing to our stagnating living standards and sluggish real incomes.

This Month

The AFR Business Summit.

Australia must control the controllables to compete with Trump’s America

While Trump is sending America in a more productive and competitive direction, Australia is going nowhere fast.

RBA governor Michele Bullock.

Repair fiscal policy to stop politicians fighting RBA’s monetary policy

Political ill-discipline has produced the biggest spending increase for a first-time government since the Whitlam era 50 years ago.

Shemara Wikramanayake Macquarie Group chief executive says that there’s a lot of work to do to achieve equality.

What Goldman, Macquarie, CBA and AusSuper are really watching amid chaos

Five burning issues for Australian business leaders and global investors have emerged from the tumult of Donald Trump’s first six weeks in the White House.

Shemara Wikramanayake says Donald Trump’s America will need plenty of private capital.

‘Heck of a lot of work’ to do on gender gap: Wikramanayake

Chief executives at some of Australia’s biggest businesses have welcomed the latest pay gap data, but said much of the gap is due to challenges with the talent pipeline.

ASIC chairman Joe Longo says that regulatory complexity “is a clear and present danger to our law enforcement”.

Why ASX corporate governance principles need a shake-up

Questions must be answered, including whether the broad consensus-based approach of the council should continue or it should be an advisory body to the bourse.

Sydney Airport departures sign and passenger wheeling luggage

GDP tipped to grow at fastest pace since 2022 as exports jump

The economy is expected to have grown by 0.6 per cent in December thanks to higher state and federal government spending, resurgent consumers and an influx of tourists.

Stephen Schwarzman addresses the AFR Business Summit on Tuesday.

Blackstone’s Stephen Schwarzman sees five hidden risks

The private equity giant’s chief executive is a sea of calm amid the drama on global markets and in geopolitics. He says the US president has three priorities.

Former top bureaucrats have backed in the Coalition’s push to get public servants to return to the office, warning the shift to working from home was damaging productivity and preventing agencies from developing policy.

Top bureaucrats say work-from-home has gone too far

Former Treasury boss John Fraser and former NDIA head Martin Hoffman say public servants need to be in the office regularly to collaborate.

The Hawke-Keating Labor governments deregulated financial markets, floated the dollar, cut tariffs, and privatised public enterprises such as Qantas.

The age of uncertainty calls for a new reform era

The Summit is an opportunity to drive an important conversation about how we can develop a policy framework that enables Australia to ride out the gathering storms.

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Senator Jane Hume says work-from-home arrangement  have become unsustainable and unproductive.

Coalition to force public servants to return to the office

Opposition frontbencher Jane Hume says working from home has become unsustainable, with a Dutton government to force public servants to the office five days per week.

According to Peter Navarro, a top advisor of President Trump, Australian aluminium has been ‘heavily subsidised’ and ‘dumped’ into US markets.

Trump’s tariff puts Australia in hard place between iron ore and China

If Australia wants to negotiate an exemption to US tariffs, it will need to convince the White House it will fight Chinese subsidies while not overly subsidising its own sectors.

Boxing Day shoppers convene on Pitt Street Mall in Sydney.

Business profits rise as economy gains momentum

The jump in profits has fuelled economists’ expectations that GDP figures on Wednesday will show economic growth is finally picking up.

Treasurer Dr Jim Chalmers wants to take on Chalmers.

Chalmers challenges Taylor to economic election debates

But economists derided both sides for failing to address urgent reforms required in tax and budget repair.

No president since World War II has been more determined to scuttle the remnants of globalisation.

The government spent $500m on trade, but business sees no benefit

After four years of the government trying to streamline international trade, exporters say they are yet to see cost and time savings.

RBA governor Michele Bullock and Treasurer Jim Chalmers.

Chalmers insists he is ‘very respectful’ of Bullock

The treasurer says “everybody knows how respectful I am” of the RBA governor, denying a report in AFR Magazine that he pressured her over the bank’s messaging on government spending.

Chinese ships a reality check for our military

Readers’ letters on Chinese military vessels circling Australia, Donald Trump’s stance on Ukraine, Woolworths’ cost cuts and the Jackson Pollock painting Blue Poles.

February

WiseTech implosion | Wild sharemarket moves | House price outlook

This week on the podcast, the drama that’s torn apart the WiseTech board, what’s behind the massive moves on the share market and a question about house prices.

Reserve Bank governor Michele Bullock and Treasurer Jim Chalmers.

Chalmers has ‘damaged’ RBA independence

Jim Chalmers’ pressure on Reserve Bank governors Michele Bullock and Philip Lowe is “highly reprehensible” and has damaged the independence of the RBA, Roger Corbett and Angus Taylor say.

Board independence is the first line of defence between bad decisions and shareholder losses.

Founder empathy is testing the limits of good boards

Independence, like value, is largely in the eye of the beholder. And investors are doing their homework on captured directors.

Original URL: https://www.afr.com/news/policy/budget