Australia’s weak economy is increasingly troubling the Reserve Bank but it will need more confidence inflation is under control before moving to cut interest rates.
Matt Mckenzie
The State Government has upped its forecast for the iron ore price despite an uncertain outlook for the steelmaking commodity.
A top Perth car retailer has warned that strikes at Fremantle Port could become ‘another disruption’ for deliveries of new vehicles in WA.
Australia’s most generous State has been revealed, and its taxpayers are chipping in about 30 per cent more than the rest of the nation.
An extraordinary fall in WA’s unemployment rate to just 3.3 per cent has played a big role in Australia’s “blockbuster” November jobs data.
A ‘blockbuster’ jobs report showing the unemployment rate falling to 3.9 per cent will give the Reserve Bank reason to stay patient just days after sparking hopes interest rates would be cut early next year.
RBA deputy governor Andrew Hauser has revealed Australia’s reliance on iron ore exports makes it far more vulnerable to a trade shock.
Jackson Hewett
The RBA has given a strong signal that an interest rate cut will be on the agenda next year despite offering no pre-Christmas relief for borrowers on Tuesday.
A pre-Christmas interest rate cut looks unlikely after a poll of more than 30 economists unanimously tipped the Reserve Bank would stay put on Tuesday.
The weak pulse will pile on the pressure in Canberra as a Federal election looms, with the economy top of mind for voters.
Western Australia’s growth is in the middle of the pack despite a whopping rise in government spending that was greater than anywhere else in the country.
JACKSON HEWETT: Today’s big GDP miss sends Australia further down the ranks of countries struggling to get off the canvas.
Australia’s economy grew just 0.8 per cent in the year to September — stuck in low gear as Jim Chalmers and Michele Bullock fought over which pedal to push.
Sliding exports of coal and iron ore have pushed Australia’s trade surplus to the lowest level since 2018.
Company profits have sunk nearly 9 per cent, throwing fresh doubt on claims that corporate greed is behind Australia’s inflation surge.
Stacking the Reserve Bank’s new interest rate board with economists who will be soft on inflation would harm the institution’s credibility, AMP’s Shane Oliver has declared.
Australia is set for another year of slow economic growth as falling commodity prices and a looming Trump trade war weigh on the outlook.
ANZ has punted back its prediction for when the RBA will cut interest rates, thanks to the strong jobs market and rising consumer confidence.
Reserve Bank boss Michele Bullock has warned Australia’s booming jobs market still has too much steam to give borrowers relief, casting more doubt on the chances of a pre-election rate cut.
A shake-up of the Reserve Bank looks set to pass the Senate after an eleventh-hour deal between Labor and the Greens that will keep a special power for the treasurer to overrule interest rate calls.
The Reserve Bank has a much larger presence in financial markets after the pandemic, as institutions borrow more from the central lender.
Public infrastructure is increasingly dominating the national construction market, a spending surge likely adding to inflation pressure and worker shortages.
If you’re looking for a new career or a pay rise, now may not be the best time, a bleak new report on the Australian job market reveals.
Cameron Micallef
A full-blooded Trump administration trade war would slow Australian growth and send shares south, the Reserve Bank reckons.
