Economy
‘Pretty severe’: warnings for Australia ahead of budget
23 April
Treasurer Jim Chalmers is en route to the US for crucial talks as the IMF delivered a dire forecast for Australia’s inflation rate and warned of a global recession. Dr Chalmers will discuss the economic maelstrom with international counterparts at...[Read More]
Fuel pump prices to ease amid shipping breakthrough
23 April
Motorists are cashing in on falling petrol prices following a ceasefire in Iran but relief may be short-lived, with the scenario expected to remain volatile for months. Prices at the bowser have dipped below $2.10 a litre and under $3 for diesel for...[Read More]
Job market yet to feel impact of Iran war, rate hikes
23 April
The Iran war has yet to hit Australia’s robust labour market, but a double-blow to unemployment from higher oil prices and the Reserve Bank is on its way. The jobless rate held steady at 4.3 per cent in March, despite the Middle East conflict...[Read More]
Record defence spend to counter ‘more dangerous world’
22 April
Australia will drastically increase spending on missile defences, drones and AUKUS nuclear submarines in a significant change to the nation’s defence posture to meet a “more dangerous and uncertain world”. Defence Minister Richard Marles laid...[Read More]
Warning for borrowers as RBA frets over its credibility
23 April
Australia could be heading back to the runaway inflation of the 1970s and 1980s if people lose faith in the Reserve Bank, a top central bank official says. Speaking at a panel of economists during the International Monetary Fund spring meetings in...[Read More]
Oliver’s Insights – Nine key longer term consequences of the US/Israeli war with Iran
16 April
Key points Uncertainty remains high over the US/Iran War with a ceasefire declared but no agreement in talks so far. Tensions continue to remain high and oil flows remain restricted, with Trump announcing his own blockade on the Strait of...[Read More]
‘We won’t be spared’: inflation warning to Australia
16 April
The treasurer is jetting to the United States for talks as the International Monetary Fund warns Australia is is projected to have one of the highest inflation rates as the Middle East conflict threatens a global recession. Jim Chalmers will head to...[Read More]
Spoils of Iran war to deliver Chalmers a budget boost
16 April
The Iran war is set to deliver a $36 billion windfall for Treasurer Jim Chalmers, but increased spending on cost-of-living measures could derail efforts to get the budget back in black. Even with a fragile ceasefire holding in the Middle East, the...[Read More]
RBA’s stagflation nightmare: prices up, confidence down
16 April
The Reserve Bank board will have to earn its money to navigate Australia through a “nightmare” stagflation shock, a top central bank official says as confidence tanks and prices soar. The RBA was still “feeling its way” through the energy...[Read More]
All options on table in drive to shore up fuel supply
16 April
Australia has avoided disruption to its international fuel supplies but that won’t stop the government considering all options to shore up provisions, including extracting more oil and gas. Fifty-seven ships laden with crude oil, jet fuel, diesel...[Read More]
Australia faces ‘sharp recession’ if US escalates war
9 April
US President Donald Trump’s threat to send Iran “back to the Stone Ages” has rattled equity markets. If he follows through, Australia is at risk of entering a recession. In a prolonged war scenario, modelled by Oxford Economics Australia, the...[Read More]
War puts world on road to higher prices, slower growth
9 April
The war in the Middle East will lead to higher inflation and slower global growth, says the head of the International Monetary Fund ahead of next week’s global forecast for the world economy. The war has triggered the worst-ever disruption...[Read More]
The RBA conflict that could decide its next rates call
2 April
A conflict at the heart of the Reserve Bank’s mandate could determine the outcome of its next interest rates decision. Minutes from the central bank’s March meeting published on Tuesday revealed a split between the five members who voted for a...[Read More]
CBA ups inflation prediction as supply chains strain
2 April
Economists at Australia’s largest lender have issued a dire warning for consumers, forecasting inflation to scale new heights as hopes of a quick resolution to the Iran war fade. The Commonwealth Bank (CBA) expects headline inflation to peak at...[Read More]
Major capital home prices slip in two-speed market
2 April
Australia’s two largest property markets could be entering a downturn as rising inflation and interest rates squeeze prospective buyers. But while the Middle East conflict will take some steam out of price growth, Australia’s chronic undersupply...[Read More]