Economy
Growth, inflation, interest rates and central-bank decisions, budgets, trade and tariffs, and what they mean for households and firms.
Latest Economy stories
RBA denies staff a pay rise that keeps up with inflation just hours after interest rate rise
Michele Bullock concedes Australian workers are suffering wage cuts in real terms but latest EBA offer remains behind rise in cost of livingFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe Reserve Bank rejected its own staff’s requests for a real pay rise and backpay on lost wages just hours after it hiked interest rates on Tuesday.While the RBA has repeatedly warned that inflation-matched wage growth risks pushing up consumer p
Australia at risk from major global financial shock, Reserve Bank warns
Warning comes as central bank estimates fewer than one in 100 borrowers owe more on their home than its worthFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe Reserve Bank says households are well placed to weather the twin storm of rising interest rates and plunging property prices, but warned that Australia would not be immune to a sudden collapse of the global AI investment boom.The central bank’s latest financial stability re
BOJ board opinion summary shows shift in focus to curbing inflation overshoot
The summary is likely to boost speculation over another hike this year, although it offers no clear signal on the timing.
Guardian Essential report: what do Australians really think about immigration? – podcast
Immigration is the hot-button issue lighting up this month’s polling. Elsewhere, the Coalition have hit their equal-lowest ever primary vote, despite mounting scrutiny on Labor’s handing of the economy and inflation, and other dramas dogging the government.Guardian Australia political reporter Josh Butler speaks with Essential Media chair Peter Lewis about how many votes can be won in the bruising and often incendiary brawl over migration policy. Continue reading...
Israel's next finance minister faces NIS 350 billion war bill and rising debt
With estimated war costs of NIS 350b and public debt near 70% of GDP, Israel’s next government must balance surging defense spending with urgent education and...
High Airfare, Weak Rupee? 5 Ways To Cut Your Overseas Travel Cost
The weaker rupee can make every dollar spent abroad more expensive. Travellers should include forex in their budget.
Almost one out of 100 homebuyers in negative equity, RBA says
There is a growing risk Australia would be hit hard by a global financial shock as inflation stays high.
Lindian powers up Malawi rare earths as production looms
Lindian Resources has switched on grid power at its Malawian rare earths project, hitting a key milestone ahead of schedule and under budget.
Trump renews calls for former Federal Reserve chief Jerome Powell's resignation
The Federal Reserve's watchdog on Wednesday found no grounds for a criminal referral over a roughly $1 billion cost overrun on renovations to the central bank's Washington buildings, while faulting project oversight. The findings prompted President Donald Trump to renew his call for former Fed chief Jerome Powell to resign.
Watch Minneapolis Fed President Neel Kashkari discuss the economy and monetary policy
Kashkari will sit down with CNBC's Steve Liesman for an exclusive conversation Wednesday night.
Property prices are plunging in almost every capital city across Australia – see how your suburb rates
Cotality data shows median house prices fell in September as interest rates hit borrowing capacityFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastHousing prices are falling in almost every suburb in Australia’s biggest cities, with values dropping faster in Brisbane than Sydney as the slowdown intensifies.Prices nationally have fallen 5.2% from their peak in March to where they were a year ago, Cotality data released on Thursday sh
Fed’s Watchdog Finds No Misconduct or Illegal Activity in Costly Renovations
A new report by the Federal Reserve’s independent inspector general concluded that a nearly $2.5 billion construction project was poorly managed but made no referrals to the U.S. attorney general.
Meet 'America': Trump’s AI chatbot changes answers after challenging his claims
Donald Trump has launched “America”, an AI chatbot designed as a digital portal for US government information. But its responses appear to be changing. The chatbot initially challenged several of Trump’s claims, including on the 2020 election and inflation, providing evidence and links. More recently, it has refused to answer some of the same questions. Other responses still contradict Trump, while some echo his views. Vedika Bahl tests the chatbot, and its varying answers in Truth or Fake.
Trump’s New Tariffs Get a Familiar Day in Court
For the third time in less than two years, the Trump administration returned to court on Wednesday to defend its power to wage a punishing global trade war.
France to unveil 2027 budget as debt hits record high
As the French government prepares to unveil its latest budget, the country's debt is at a record high and growing every day. France's public debt currently stands at nearly 3.6 trillion euros, nearly 60 billion of that added in the last three months alone.
If turbocharged petrol prices are driving up inflation, then why are Australia’s unemployed on the line? | Greg Jericho
Avoiding a rise in unemployment is important for the RBA – but apparently not a dealbreakerFollow our Australia news live blog for latest updatesGet our new political email, free app or daily news podcastAnd here we are again. Hello darkness my old friend. Interest rates up again and talk of a recession if needed.The Reserve Bank’s enacting legislation gives it a dual mandate – “price stability [ie stable inflation] and the maintenance of full employment in Australia”. But in reality the RBA see
Inflation is rising, interest rates are going up – and Labor’s economic woes could be One Nation’s gain | Tom McIlroy
Pauline Hanson’s ability to reflect voters’ discontent is unrivalled and the government has few good optionsFollow our Australia news live blog for latest updatesGet our new political email, free app or daily news podcastAfter the defeat of the voice referendum during the Albanese government’s first term, things looked pretty rough for Labor.Labor slumped to some of its worst polling levels and government MPs were in a funk. The Coalition, then led by Peter Dutton, started to imagine the possibi
Gold loses momentum as the initial reaction to softer US PCE inflation fades
Gold (XAU/USD) reverses its earlier gains on Wednesday after briefly climbing above $4,200 in reaction to softer-than-expected US Personal Consumption Expenditures (PCE) inflation data. The initial move fades as the US Dollar (USD) trims its losses and US Treasury yields resume their advance.
Fed’s Preferred Inflation Gauge Points to Continued Price Pressures
The Personal Consumption Expenditures price index showed little sign of easing in August, though revised data showed inflation had been slightly cooler than previously believed.
Interest rate for PPF, SCSS, KVP and NSC for Oct to Dec quarter: Here are details of small savings scheme
The interest rates on small-savings schemes are reviewed by the government every quarter
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