RBA
Swifties boost spending
13 March
The Australian economy got a leg up from Taylor Swift concerts but the much-anticipated visit was not enough to counter penny pinching elsewhere. Spending as tracked by Commonwealth Bank has been generally subdued and fell 0.3 per cent over the...[Read More]
Economy hit by rates and inflation
6 March
Australia’s economy limped across the 2023 finish line as financially-strained households pinched pennies and prioritised essentials over nice-to-haves. The economy expanded 0.2 per cent in the three months to December – broadly in line with...[Read More]
Consumer price index steady at 3.4 per cent in January
28 February
Australia’s consumer price index held steady at 3.4 per cent in the 12 months to January, coming in below expectations. The index had been widely expected to rise by 3.6 per cent on an annual basis, when the data was released by the Australian...[Read More]
Consumers, productivity still cloud outlook: RBA
21 February
Stubbornly high inflation, a failure to revive productivity growth and a deeper consumption slowdown are all live possibilities keeping the Reserve Bank on guard. Cutting interest rates was not discussed at the February cash rate meeting, with board...[Read More]
Rate hike case scuttled by improving inflation outlook
21 February
The Reserve Bank of Australia is growing more confident it can conquer inflation in the time-window it has given itself. Yet it’s still too early for it to consider interest rate cuts, with board members discussing another 25 basis point hike or...[Read More]
Treasury eyes ‘rare’ full employment opportunity
14 February
Australia has a chance to keep the gains in the jobs market generated by the pandemic recovery, Treasury says, provided it plays its cards right. “With the right policy choices, there remains a rare opportunity to sustain the economy closer to...[Read More]
‘Nothing’s in, nothing’s out’: RBA keeps options open
7 February
Reserve Bank governor Michele Bullock is keeping her options open on interest rate movements both up and down and remains alert to economic risks on the horizon. “Nothing’s in, nothing’s out,” Ms Bullock said during the first-ever...[Read More]
Living pressures ease for employee households
7 February
Working families are still under acute financial pressure but fewer cash rate hikes of late has tempered growth in their overall living costs. In the 12 months to the December quarter, living costs rose 6.9 per cent for employee households, down...[Read More]
Thrifty December cures sales-fuelled debt hangover
7 February
Frenzied spending during the Black Friday sales left many nursing credit card debt in the lead-up to Christmas. Australia’s credit card bill attracting interest charges inched higher by $21 million in December to $17.31 billion, Reserve Bank of...[Read More]
Inflation rate eases to two-year low in welcome sign
31 January
Australian mortgage holders can rest easy heading into the first cash rate call of the year following convincing progress on inflation. Yet even with softer set of consumer price data – including the smallest quarterly increase in almost two years...[Read More]
Focus on overseas data as Australian economy cools off
24 January
Australians will look to the US and China for economic sneezes as the nation tries to avoid catching a fiscal cold. After promising jobs and inflation figures pointed to cooling inflation, the domestic economy is set for a comparatively quiet week...[Read More]
Jobs data on agenda as signs point to cooling inflation
18 January
All eyes will be on jobs data this week as Australians hope for more positive signs before the Reserve Bank’s first rate decision of the year. A slowdown in jobs growth is expected to show up in the Australian Bureau of Statistics’ December...[Read More]
Slower-than-expected inflation lifts rate pause hopes
10 January
The prospect of another interest rate hike next month has become more remote after inflation fell faster than expected. The Australian Bureau of Statistics consumer price index for November came in at an annual rate of 4.3 per cent, down from 4.9...[Read More]
Cost of living relief on table but cash handouts vetoed
3 January
Financially strained Australian households could be in line for more cost of living relief as the federal government considers its options for extra help. That assistance is unlikely to come in the form of cash handouts as Prime Minister Anthony...[Read More]
RBA boss hopeful for better year following hard 2023
13 December
The elevated cost of living, higher interest rates and a rising tax take have fed into one of the most difficult years for consumers on record. The painful squeeze on households as captured by consumer confidence surveys has been recognised by...[Read More]