Major bank flags big risk in rate cut
Australia’s biggest bank says there may be some brief relief for those priced out of owning a home, but there could be a brutal side effect to cutting rates.
Australian Economy
ASX 200 hammered on Trump tariffs
Nearly $50bn was wiped off the Australian sharemarket on Monday as fears of a trade war led by US President Donald Trump tariffs ripped through the local market.
Grim truth about Aussie rate cut
Mortgage holders need more than one rate cut to start feeling relief, with only about 53,000 Aussies likely to move away from “at risk” should the RBA cut rates in February.
’Sack them all’: Push to ‘abolish’ 537 councils
Ratepayers are paying the price for bloated council salaries and mismanaged projects, sparking renewed calls to simply “sack them all”.
Proof of how far off target Australia is
Australia remains behind its ambitious target of 1.2 million new homes by 2029 despite a bounce in new housing approvals in December.
Major turnaround in Aussie habit
Aussies have returned to the stores on the back of cost-of-living relief, lifting consumer spending for the first time in nearly two years.
Why flights to LA to become a lot cheaper
A giant American airline will become the third player on a key Australia to US route later this year.
Telling clue Aussie economy is doomed
A staggering new trend has emerged since the Albanese government came into power – and it could have a big impact on the economy.
Last of big four banks updates rate cut tip
All four of the big banks now agree on when the Reserve Bank board will cut interest rates following welcome inflation data this week.
Bank bucks trend with bold move
As the major banks close more regional branches, one of the big four is taking a different approach for face-to-face dealings on Saturdays.
Aussie sharemarket closes on 100 day high
The Aussie sharemarket has closed on a 100 day high, led by consumer discretionary stocks as investors factor in rate cuts.
Figures hide Aussie families’ pain
Australians are still feeling the pinch of cost-of-living rises even though the rate of inflation is slowing.
How young Aussies can get $1321 boost
Applications are now open for young Aussies to get a tax-free $1321 cash boost, but there’s a catch.
‘It’s on’: Major bank expects Feb rate cut
In welcome news for mortgage holders, a third major bank is now expecting a rate cut in February following lower-than-expected inflation data.
Aussie workers who fear AI the most
The Australian workers most concerned about artificial intelligence have been revealed in a new global survey.
Aussie economy’s major breakthrough
Australia’s economy might be hitting a turning point on the back of better household spending – but economists are warning more work needs to be done.
Major change to credit cards an Aussie first
An Australian bank has been the first mover Down Under to catch up with a key anti-scam development being used around the world.
Bankers’ warning to scam victims
The Australian banking lobby chief has revealed some customers are ignoring warnings about scammers, at an inquiry into new laws to help victims.
Rate cut in February hangs on this figure
Struggling borrowers could finally get a rate cut in February, with inflation tipped to fall faster than the Reserve Bank has been expecting.
Hopeful sign for struggling businesses
Businesses are reporting overall better conditions at the end of 2024, with retailers benefiting from a big holiday spending boost.
Chalmers urges ‘confidence’ ahead of CPI drop
The Treasurer has urged “confidence, not complacency” ahead of Wednesday’s new inflation data, which could lead the RBA into its first rate cut since 2020.
Warning over mass Aussie skill shortage
Alarm bells have been raised over fears Australia will face a mass skill shortage across key industries, unless slipping education standards are halted.
‘Done all we can:’ Albo’s big call on rates
The Prime Minister says his government has “done all it can” to tame inflation to allow the RBA to cut rates and deliver households much needed relief.
Chip shop pic shows why Australia is a joke
A photo snapped inside a local fish and chip shop has perfectly encapsulated the “failure” of Australia’s economy.
Australia’s top performing state revealed
Two mining powerhouses are officially Australia’s best performing state economies, with one topping the list for the second time since 2014.
Aussie red meat booms to record high
Aussie farmers have plenty to celebrate this Australia Day, with fresh figures revealing a stunning boom in red meat exports.
‘Chill out’: PM’s Oz Day swipe against Dutton
Anthony Albanese has used his first major speech of the election year to take a swipe at Peter Dutton on a number of topics, including Australia Day.
Hundreds of thousands of chickens put down
A devastating strain of avian flu has seen hundreds of thousands of chickens put down.
Huge number of Aussies needing a rate cut
A huge number of Aussie households have said they are desperately needing a rate cut when the Reserve Bank next meets.
Mining state sinks into budget black hole
Millions of Aussies are confronting a stark budget black hole, with an economic update exposing a serious $217bn breakdown in one state’s finances.
Truth about Aussie shoppers revealed
Record deliveries from Australia Post in the past two months have revealed some essential truths about the average Aussie shopper and what they want.
‘Focused’: Chalmers’ rebuke after new poll
Jim Chalmers has pushed back against polling that suggests Australians hold bleak expectations for 2025, saying the Albanese is focused on cost of living.
Faltering dollar ‘unlikely’ to sway RBA
Australia’s weak dollar could see inflation tick up slightly, but it is unlikely to move the RBA on its next rate cut decision, a leading economist says.
Premier dangles lifeline for casino
While one state slams the door shut on helping cash-strapped casino business Star, another Premier is walking a noncommittal tightrope.
75yo’s savings advice leaves Gen Zers gasping
A man has revealed how much he has in savings and then divided with his wild cost of living take.
Aussie economy tipped to improve in 2025
The Australian economy is expected to experience brighter days ahead off the back of expected interest rate cuts, but there is a massive catch for workers.
Surprise find after $550 pay out to workers
Australians are more likely to take time off work with higher government payments, new research shows.
State’s push for fuel price cap
One Aussie state is pushing for a major shakeup to pricing at the bowser – including 24-hour caps on fuel prices and mandatory reporting from retailers.
’Grave concerns’: Australia’s hidden shame
Products that the US deem inhumane – because they are coming from forced labour camps in China – are entering Australia.
Huge problem facing fast-food giant
Experts say the US brand will be facing an uphill battle as it tries to crack the Australian fast-food market.
Radical plan to get Aussie retirees spending
Australian retirees are saving too much of their retirement nest egg, with calls for major reforms to the superannuation sector.
Dutton backs huge lunch tax break
There’s no such thing as a free lunch, but Aussies could soon enjoy tax deductible ones in an elected Coalition government.
‘Lost decade’: Diabolical 2025 warning for Aus
Cash-strapped Aussies holding out hope for some cost-of-living relief this year are set to be disappointed.
Why Young Aussies are fleeing country
Fed-up by the high cost of living and soaring house prices, working-aged Australians are increasingly looking for cheaper alternatives.
Fears rate cut could be delayed
Australia’s unemployment rate rose slightly in December but still remains under the RBA’s forecasted figure, putting in doubt a rate cut for the first time in 17 months.
Gerry Harvey’s big call on Temu
One of Australia’s high profile retail billionaires has called for a “government inquiry” into discount Chinese online retailers Shein and Temu.
Big bank’s call on rate cut
One of Australia’s big four banks has renewed its prediction for when the Reserve Bank will cut the cash rate, as spending dropped after the Black Friday sales.
Insane cost just to send your kid to school
The cost of living crisis is extending to schools, with households making a number of sacrifices to send the kids back to school.
‘Kicked so hard’: Dread as Aussie dollar tanks
The Australian dollar is falling fast. Families are already feeling the pinch – and experts say things are about to get a whole lot worse.
ASX jumps on US tariff hopes
Australia’s share market finished in the green on Tuesday, led by the major resources and property stocks, and a surprise report out of the US.
New contender in Aussie fast-food wars
Missing for more than a generation, an iconic US fast-food outlet opens in Australia again this week, adding a new contender to the fast-food wars.
Why Aussie dollar fall could cost homeowners
The chances of an interest rate cut in early 2025 are falling faster than the Aussie dollar, with experts saying the drop in our currency could cause the Reserve Bank to baulk at a cut.
‘Vulnerable’: Panic as Aussie dollar tanks
The Australian dollar has plummeted to a near five-year low recently – and experts have warned of dire consequences ahead.
Budget retailer to make huge change
Bargain Chinese retailer Temu is working with the Australian consumer watchdog to make changes to its product lines.
‘Staggered’: Major catch for Aussie rate cut
With thousands of Aussie homeowners buckling under the weight of hefty repayments and the cost of living crisis, a financial expert has laid out his best tips going into 2025.
Cash boost for millions of Aussies
New data has revealed the boost to Aussie wages, with a worker on the median wage now earning more than $2000 extra a year.
Reason behind retail boom revealed
Retailers have received a temporary bump during Black Friday sales, official figures show.
Glimmer of hope for Aussie renters
The rental crisis in Australia is finally showing signs of easing, as advertised prices stall for the first time in three years, according to new research.
Fresh hope for Aussies smashed by rates
Australia’s all-important trimmed mean inflation rate continues to fall, renewing hope for an early rate cut, the national figures show.
Albo’s fiery defence of public spending
Anthony Albanese has given a fiery defence of Labor’s public spending as fresh inflation figures turned up a surprising result.
Cost of Aussies’ 2025 grocery shop revealed
Just how much extra Aussie families will pay to put food on the table this year has been revealed as cost-of-living pressures continue to bite.
Major bank’s huge interest rate call
NAB says the worst of the economic cycle could be behind us, predicting a number of rate cuts in 2025 to help households and business alike.
Twist after woman earning $110k denied loan
An Aussie woman with a respectable job has sparked fury over claims she was knocked back by mortgage lenders for one controversial reason.
Eye-watering cost of Christmas revealed
A staggering number of Aussies will be paying off their credit card debts for at least six months after relying on their credit cards to get through the holiday season.
‘Open borders with India’: Migration surges
A massive surge in migrants from India is hampering efforts to rein in overall numbers, fuelled by a controversial pact signed by Anthony Albanese after Covid.
Panic as Aussie dollar crashes to 5-year low
Experts have warned that the Australian dollar could continue to plummet even further after falling sharply to a near-five-year low.
‘Dangerous’: Warning on Aussie house prices
A property expert has warned Australia’s property market could be a ‘dangerous’ purchase in 2025, with investors risking hundreds of thousands of dollars.
Horror reality in Australian mortgage crisis
An upsetting reality awaits millions of Aussies working to own their own home outright, with one expert sharing a surprising insight.
Why Australia invests in ramen, comic books
From ramen noodles to online gambling, Australia’s $225bn Future Fund has some pretty wild investments on its books. Here are our top 10 wildest bets.
Surprising reason for ASX’s sudden spike
The ASX 200 finished the week strongly off the back of surging commodity stocks and an unexpected business partnership
Centrelink payments increase for millions
From welfare payments and price increases to new laws and regulations, here are some of the biggest changes.
Petrol boss hits back on price claims
Following calls for a fuel price inquiry, the petroleum marketers’ boss has explained why Aussies are getting slugged at the bowser.
Why Aussie house prices have dropped
National house prices have dropped for the first time in two years, with one state leading the downward pressure.
‘Tax’: New Aussie car rules under fire
Carmakers need to meet higher standards after new rules came into force on New Year’s Day, with one senior MP slamming the changes as a ‘new tax’.
Tax warning on home prices ignored
The Federal Government chose not to act on recommendations to review negative gearing and capital gains tax more than 20 years ago, new documents have revealed.
Can’t blame young Aussies for fleeing country
Aussies are making the difficult choice of leaving, as high house prices see them look for cheaper alternatives overseas.
Grim warning for Australia’s living standards
Aussies are getting poorer and it seems unlikely to change in the near future – but it may not be all bad news, according to industry figures.
Falling Aussie dollar could halt rate cut
A weakening Aussie dollar could see import prices rise, adding further pressure on the RBA to hold rates higher, experts have warned.
Why 2024 was shocker for Aussie brands
After a horror year for thousands of Aussie businesses, one major thing will determine whether they can bounce back over the next year.
Cash relief announced for bushfire victims
Governments and major banks have announced support payments for victims of the devastating Victorian fires.
Original URL: https://www.news.com.au/finance/economy/australian-economy