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Australian economy

This Month

Winners and losers from the Aussie dollar’s near five-year low

There’s something strange going on with the currency. Expect expensive overseas trips, takeover activity, more foreign buyers in the real estate market and a federal budget boost.

  • John Kehoe
 The irony is that Labor’s bigger spending during the past three years has, in part, made inflation harder to tame and helped keep interest rates higher for longer.

Rate cut can’t paper over Australia’s economic problems

The near-term focus on the RBA highlights the worrying fact that an election fought mainly over the cost of living will mask Australia’s budget and growth problems.

  • The AFR View
Finance Minister Katy Gallagher.

With a $7.4b black hole, Gallagher tries to explain the unexplainable

Budgeting no money for public servant wage rises may have made sense under a stingy Coalition, but it makes no sense under a Labor government hiring like mad.

  • Michael Read
These colourful monogrammed bags from the early 2000s are back.

What crisis? Millennial nostalgia fuels rush for $7050 handbags

The limited-edition designer goods market is in rude health as a Louis Vuitton collection nears sellout in Australia.

  • Michelle Bowes
RBA governor Michele Bullock.

RBA should cut rates and not be fooled by trimmed mean inflation

The actual inflation rate Australian consumers and businesses feel is now within the designated target range of 2-3 per cent. The RBA should not ignore this.

  • Craig Emerson
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BlackRock Investment Institute’s global chief investment strategist Wei Li presenting at the AFR Business Summit last March.

The $18.4trn reason to listen to BlackRock’s three lessons in 2025

Wall Street and its biggest investors like the global investment giant influence the ASX more than anything else. That’s why you need to listen.

  • Anthony Macdonald
From top: Seven Group’s Ryan Stokes, Woodside’s Meg O’Neill and Telstra’s Vicki Brady.

CEOs reveal how to fix the productivity problem

Business reckons it’s ready to invest to help bolster living standards for all Australians. It just needs some policy help.

  • Updated
  • James Thomson and Anthony Macdonald
Clockwise from right: Anthony Miller, Leah Weckert, Kevin Gallagher and Shemara Wikramanayake.

More skilled migration, less red tape to kickstart economy: CEOs

The government needs to stimulate sagging productivity growth if Australia is to prosper, business warns.

  • Anthony Macdonald and James Thomson
How do you beat a market where the biggest investors seem to be able to keep buying their biggest stocks?

The existential risk Australia’s rock star investors are facing

If fund managers cannot work this one out, they could be gone before the problem gets a chance to fix itself. Small shareholders and even super funds would be worse off.

  • Anthony Macdonald
The treasurer has been clear that he believes in something different to—he might say “beyond”—the Hawke-Keating-Clinton-Blair economic model. A “values-based capitalism.”

No Christmas rate cut because Chalmers fought economic laws and lost

The treasurer made a bet he could spend expansively but still see multiple interest-rate cuts from the Reserve Bank before the next election.

  • Richard Holden
Best books of 2024.

The books Australian economists loved in 2024

The Shortest History of Economics by Andrew Leigh ranked as one of the most popular books among our most prolific readers.

  • Cecile Lefort
The banks have done their heavy lifting, the miners are waiting on China, so we need the underperformers to step up in 2025.

Dogs of the ASX need to find their bite

The banks ensured the Australian sharemarket made good money for investors in 2024. But we need changes to do it again this year.

  • Anthony Macdonald
the Federal government has also rejected the coherent productivity engendering policy program like that of Hawke and Keating tied to promoting workers welfare, especially via macroeconomic stability, modernisation, and living standards.

Green-left politics is trashing our freedoms and prosperity

Australia is held back by a special kind of leftism that is essentially an assault on the fundamental human rights that drive a free-market economy.

  • Stephen Anthony

December 2024

The lucky country has blown the (20-year) boom

Australian governments have frittered away much of the windfall from the mining boom, which may now be fading. And there is no plan to pay for spending locked in.

  • John Kehoe
Chadstone Shopping Centre is a world unto itself.

24 hours in Chadstone: a postcard from Melbourne’s shopping temple

I spent a night in the mega mall in the week before Christmas, and even a bloated Victorian budget couldn’t spoil the mood.

  • Gus McCubbing
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Robin Khuda, Julie Coates, Shayne Elliott, Chris Ellison, Richard White,  Mike Sneesby.

The good, the bad and the ugly of corporate Australia in 2024

Big deals, big names, big disasters. From AirTrunk to Woolies to our own Nine Entertainment, here are the biggest moments of the year.

  • James Thomson
Muhammad Ahsan Siddiqi’s qualifications as a civil engineer are recognised in Australia, but employers want local experience.

‘Give us a chance’: More visas not enough to fix skills crisis

According to a recently launched coalition of business groups, unions and community organisations, more than 620,000 permanent migrants work below their skill levels and qualifications.

  • Ronald Mizen
Jim Chalmers’s temporary budget surpluses have vanished into a deeper sea of red ink.

Bigger and hidden deficits are the real MYEFO result

In its mid-year budget outlook, Labor is effectively doubling down on the bigger-spending, bigger government that has crowded out private investment.

  • The AFR View
Treasurer Jim Chalmers.

Budget update sounds a clear warning

Jim Chalmers is good at relaxed rhetoric about the economy. The mid-year figures are much tougher to explain.

  • Updated
  • Jennifer Hewett
Treasurer Jim Chalmers.

Coalition nuclear fund would deepen $90b off-budget blowout: Chalmers

A record $90 billion of spending over four years will be obscured in off-budget funds, but Treasurer Jim Chalmers says it would be worse under the Coalition.

  • Updated
  • Michael Read

Original URL: https://www.afr.com/topic/australian-economy-1m3k