Don’t bet on rates relief this year
Inflation is heading in the right direction but remains too high to justify the Reserve Bank delivering mortgage relief this year, even if there are no longer fears that the next move in interest rates will be up.
Patrick Commins
Latest
Inflation ‘not likely RBA trigger’
Mortgage holders can breathe a sigh of relief, after inflation accelerated for the first time in 18 months to 3.8 per cent in the year to June, but not by enough to force the Reserve Bank to hike again next week.
‘Timid’ RBA risks credibility blow
The Reserve Bank’s ‘timid’ response to persistently high inflation has created the biggest threat to the independent central bank’s credibility since the early 1990s, leading economists warn.
World-leading state deficits threaten inflation fight
Big-spending state and territory governments, ploughing billions in extra spending into the economy, risk undermining the Reserve Bank’s inflation fight.
Made in Australia ‘a risk of protectionism’
The independent Productivity Commission has warned that industry assistance must be transparently weighed against alternatives, and warned identifying sectors with a future competitive edge is fraught with difficulty.
Trump’s economic agenda ‘would hurt Australia’
Australia would be one of the biggest losers if a Donald Trump presidency restarts a trade war with China and further fractures the global trading system, economists say.
‘Record’: Chalmers fifth on jobs growth
The Albanese government’s jobs creation record is the fifth best among parliamentary terms going back to the late 1970s, despite Labor boasting of a record 930,000 increase in employment since the last election.
Labour market shows resilience
Another bumper month of jobs growth in June and a slight lift in the unemployment rate has capped a financial year of extraordinary labour market resilience in the face of flatlining economic growth.
‘$10 coffees?’: Hospitality sinking amid hostile waves
Could you soon pay $100 for steak & chips? As hospitality businesses fail at nearly twice the rate of a decade earlier, industry players sound a warning on cafes and restaurants.
ALP homes target sliding out of reach
Housing experts have warned that new home commencements would flatline for the remainder of 2024 putting the Albanese government’s claims of 1.2 million new homes within five years further beyond reach.
Original URL: https://www.theaustralian.com.au/author/patrick-commins