RBA Holds Rates Steady at 3.6%, Cuts Unlikely Until 2026
RBA holds cash rate at 3.6% in September; economists split on timing of cuts, with some predicting no move until 2026. Retailers urge rate relief.
Category : Economy
SA Budget Sets Aside Extra $384M for Whyalla Steelworks, Expects Federal Match
SA budget allocates extra $384M for Whyalla steelworks, contingent on federal match, as administration continues and sale interest grows.
WA Treasurer Warns Against Changing GST Deal as Economists Slam $50 Billion Cost
WA Treasurer warns changing GST deal could cost Labor every seat in WA, as economists say deal will cost $50 billion, not $39 billion.
Fuel Excise Halved, SA Says No to Free Fares
Australian government halves fuel excise by 26.3 cents per litre for three months to reduce petrol and diesel costs, with national cabinet agreeing on a four-point fuel supply plan.
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Gold Exports Drive Record $4.5B Trade Surplus in January
Australia's trade surplus hit $4.5B in January, second largest on record, as gold exports tripled to $2.2B, beating expectations.
Qantas Loses High Court GST Battle Over No-Show Fares
Qantas loses High Court case over $34 million in GST on no-show flights; court rules tax must be paid to government.
WA Treasurer Defends States GST Share Allocation
WA launches $1M ad campaign to protect GST deal, arguing it benefits national economy amid pressure from other states.
UK Economy Shrinks in April Amid Iran War Impact
The UK economy contracted by 0.3% in April, the first decline this year, as global uncertainty from the Iran war held back growth across services and manufacturing.
ECB Raises Eurozone Rates to 2.25% Amid Iran War
The European Central Bank increased its main deposit rate to 2.25%, the first rise since 2023, to combat inflation fueled by the Iran conflict. Markets expect two more hikes by spring.
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Oxford Grads Face Zero Jobs: UK Youth Unemployment Crisis
About 1 million UK 16-24 year olds are NEET, facing unprecedented obstacles. Unemployed for over a year, they share struggles with food, transport, and mental health.
ACT Budget Based on Heroic Economic Assumptions
Chris Steel says the ACT budget relies on optimistic economic forecasts, raising concerns about sustainability and potential risks for Canberra's finances.
Adam Triggs: The True Face of Economic Reform
Adam Triggs outlines what genuine economic reform entails, challenging current policies and advocating for a more inclusive and sustainable approach to Australia's economy.
ACT Budget: $10B Spending First, New Debt Target
The ACT Government unveils a record $10 billion budget, introducing a new debt reduction target amid economic recovery.
ACT Gov Fiscal Woes Persist After Multi-Decade Rule
The ACT government continues to struggle with fiscal challenges despite decades in power, with budget deficits and rising debt levels raising concerns.
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Aussies Slam 'Rushed' Tax Consultation on CGT Changes
Australians have criticized the government's 'rushed' 12-day public consultation on capital gains tax and negative gearing changes, with many warning of global-high CGT rates.
Coalition slams Labor's rushed $80bn tax reforms
The Opposition has accused Labor of rushing through the biggest tax changes in decades, condemning a two-day Senate inquiry as 'disrespectful'. Business groups also criticise the process.
Climate Change Costs NSW $21,300 Per Person Annually
A new report reveals that climate change has caused a median 18% loss to the NSW economy, equating to $21,300 per person annually. The damage stems mainly from global weather shifts, not just local disasters.
ACT Budget Deficit Pressures Reach $1 Billion
The ACT government's 2026-27 budget is under significant pressure, with a projected deficit of $1 billion due to rising costs and reduced revenue.
England's Kane Dependence: Tuchel Seeks More Goals
Amid fears of over-reliance on Harry Kane, Thomas Tuchel urges England's attackers to step up ahead of the 2026 World Cup. Key players like Bellingham, Rashford, and Saka need to contribute more goals.
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OpenAI Files for IPO as AI Frenzy Hits Aussie Super
OpenAI has confidentially filed for an IPO, following Anthropic, as the AI race heats up. Aussie super holders face risks from concentration in index funds.
Intergenerational Inequity Beyond Wealth
A new report reveals that intergenerational inequity extends beyond wealth, affecting health, education, and housing. Each generation faces unique challenges.
Rachel Reeves Quietly Reshaping UK Economic Policy
Despite unpopularity and policy U-turns, Rachel Reeves has advanced devolved spending and infrastructure investment, aiming to rebalance the UK economy away from London.
Australia's Fertility Rate Hits Record Low at 1.48
Australia's fertility rate has dropped to 1.48 births per woman, the lowest ever, due to cost-of-living pressures and delayed childbearing, raising concerns about an ageing population and economic growth.
Barr Cuts Infrastructure to Save $700M
ACT Chief Minister Andrew Barr announces a $700 million saving by slashing infrastructure projects, redirecting funds to health and education.
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HSBC chief warns Australia recession risk from three shocks
HSBC chief economist Paul Bloxham warns Australia's recession risk is rising due to three shocks: RBA rate hikes, Middle East conflict, and budget uncertainty. GDP growth slowed to 0.3% in Q1.
Over 60% of Australians expect recession by Christmas
More than 60% of Australians believe the country will be in recession by Christmas, as high inflation and low productivity weigh on the economy, according to Finder research.
Dept of Social Services $20M Staff Redundancy Payout
The Department of Social Services has paid $20 million in redundancies, sparking concerns about job cuts and service delivery. The payout covers 200 staff members.
Recession Warning as Australia's GDP Slumps
Australia's GDP growth fell to 0.3% in March quarter, prompting a top economist to warn of a potential recession amid an unsustainable economy and global disruptions.
RBA Governor Defends 2025 Rate Cuts Despite Reversal
RBA Governor Michele Bullock says she does not regret cutting interest rates in 2025, despite the central bank reversing those cuts this year as inflation surged again.
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Coalition, Greens Slam Chalmers' 'Henry VIII' Tax Powers
Coalition and Greens MPs are pushing to strip back sweeping ministerial powers in Labor's tax overhaul, warning Treasurer Jim Chalmers would gain 'Henry VIII powers' to alter key parts of the regime without full parliamentary scrutiny.
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