Insolvencies at record highs, set to rise on Iran war
Australia's most essential industries are exposed to major risks from the ongoing conflict in the Middle East, as surging oil prices weigh on economic growth.
The economy
While inflation data for February has been overtaken by the Iran war, it gives the Reserve Bank an important insight into domestic conditions before the shock.
Credit-demand figures indicate business conditions have been headed south since before the US-Israeli war on Iran rocked global energy markets.
The mining sector on the Australian stock exchange is technically in a bear market, after falling by more than 20 per cent from an earlier record high.
Update
Signs jobs market is slowing as unemployment rate jumps
Australia's labour market eased a little in February, despite an extra 48,900 jobs added to the economy, according to official data.
Update
Rates raised again as oil spike fuels inflation fears
Mortgage holders face higher borrowing costs after the Reserve Bank raised interest rates to counter an expected surge in inflation fuelled by the Iran war.
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Australian shares suffer worst daily loss in 11 months
The ASX200 has fallen almost three per cent, wiping out all its gains for the year amid the spiralling war in Iran.
After three years of declining profits, Australian corporations as a whole returned to growth this reporting season, led by banks including CBA and NAB.
Australia's gross domestic product expanded by 0.8 per cent in the last three months of 2025, lifting the economy's growth rate over the year to 2.6 per cent.
Despite Jim Chalmers' claims that public demand isn't fuelling inflation, official figures show federal spending is pushing the economy above its speed limit.
It's unclear if financial conditions can bring inflation under control or whether conflict in Iran will make it worse, the Reserve Bank governor says.
A slight uptick in inflation is a cause for concern for Treasurer Jim Chalmers, giving the Reserve Bank more ammunition for future interest rate rises.
Economists had predicted a fall in the nation's unemployment rate but the figure has held steady - a key reading ahead of the RBA's next interest rate decision.
Mortgage holders will face higher borrowing costs after the Reserve Bank raised interest rates by 0.25 percentage points in a widely-anticipated decision.
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.
Upcoming inflation data will be make or break for a Reserve Bank rate hike decision following stronger than expected jobs figures, economists say.
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.
