Blow to borrowers with about-face interest rate hike
Mortgage holders will face higher borrowing costs after the Reserve Bank raised interest rates by 0.25 percentage points in a widely-anticipated decision.
The economy
Jim Chalmers says the next head of Australia's financial watchdog, Sarah Court, is an experienced litigator and leader and will make a positive impact.
Master Builders ACT chief executive Anna Neelagama says Canberra is facing a second wave of inflation, warning pressure on households and builders is “not over”.
Analysts are warning of an imminent Reserve Bank rate hike, after the central bank's preferred inflation measure came in above forecast.
Update
Interest rate hikes a good bet after surprise jobs data
Upcoming inflation data will be make or break for a Reserve Bank rate hike decision following stronger than expected jobs figures, economists say.
The economy
Global body urges treasurer to spend less, reform taxes
Global economic body the OECD has called on Australia to rein in the NDIS and make changes to property taxes to help fix the budget and boost productivity.
The economy
Surprise inflation fall lifts hopes of rates reprieve
A sharper-than-expected fall in inflation will encourage the Reserve Bank of Australia, but underlying price growth remains too hot for comfort.
Bridging the gap in wealth between older and young Australians will require a major recalibration in housing attitudes and policies, a leading economist says.
For the first time in eight years, the net impact of the government's decisions improved the federal bottom line - but medium-term forecasts are less rosy.
The mid-year budget update will project deficit of nearly $37 billion for current financial year.
More than $12 billion in program cost blowouts demand tighter spending in other parts of the federal budget, the treasurer is warning Australians.
The return of inflation has forced the Reserve Bank to keep interest rates on hold at its last meeting of the year and raised the spectre of rate hikes in 2026.
The official cash rate is expected to remain on hold when the Reserve Bank decides on interest rates for the last time in 2025.
Equipment investment in Australia's IT sector almost doubled in three months amid a surge in data centre projects, which could help revive productivity growth.
Lower energy rebates and higher housing costs than a year ago have propelled the headline inflation rate up to its highest level in 16 months.
Companies employ 52,000 dedicated workers, more than Australia's entire coal mining sector, just to comply with regulation strangling business investment.
Pay packets are still growing in real terms according to fresh wages data, but economists say rising inflation could soon bring that to an end.
Australian consumers are the most optimistic they've been since early 2022 despite fading prospects of more interest rate cuts.
Two states heading to the polls next year have been named the best and worst places to do business in Australia based on factors such as taxes and red tape.
