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Australia’s annual rate of inflation has risen to 3.8 per cent, up from 3.6 per cent at the start of the year. According to the Australian Bureau of Statistics (ABS), prices rose by 1 per cent in the June quarter, which followed the 1 per cent increase in prices in the March quarter. That has […]
A renewed appetite for risk from US investors drove all Wall Street’s key indices higher on Friday and the positive sentiment has flowed through to the ASX this morning. However, the local focus is due to switch to inflation data this week which may determine whether the odds of a rate hike here shorten. Follow […]
The cashless revolution has taken over many parts of Australia and it’s even hit The Perth Mint. The tourist attraction in Western Australia allows you to buy collector coins, gold, silver and platinum bullion bars, jewellery and other items. It’s slightly different to the Royal Australian Mint in Canberra, which is responsible for producing the nation’s change. But The Perth Mint […]
May 8: Bank Holds Cash Rate Steady, But Eyeing Inflation Threats In a move that surprised few pundits, the RBA has voted to hold the cash rate steady at its most recent meeting, although the central bank has voiced concerns about the pace at which inflation is easing. “Back in the last meeting, we thought […]
Australian shares started the week on a positive note, as interest rate sensitive real estate and tech stocks buoyed the benchmark on Monday. At the closing bell, the S&P/ASX200 index rallied 0.7 per cent, or 53.4 points, to 7682.4, with eight of 11 industry sectors finishing in the green. Meanwhile, the broader All Ordinaries also […]
Treasurer Jim Chalmers says he understands the rate rise will be difficult for mortgage holders, and that the government is doing its bit to reduce inflation. The Reserve Bank lifted interest rates for the first time in five months this afternoon, ratcheting up the official cash rate by a quarter of a percentage point to […]
Reserve Bank governor Michele Bullock has maintained the central bank has a “low tolerance” for price pressures to stay higher for longer. Hotter-than-expected quarterly inflation data, released on Wednesday by the Australian Bureau of Statistics, showed inflation in September accelerated to 1.2 per cent, up from 0.9 per cent in June. Many economists expect the […]
The Reserve Bank says more risky home loans could end up on the books of less regulated non-bank lenders, as some of these challengers to the banks try to overcome a tough environment by targeting higher-risk customers. In last Friday’s Financial Stability Review, the RBA said Australia’s banks were well positioned to deal with the risk […]
Pharmacies could lose more than $150,000 each annually over the coming years under Labor reforms that reduce the cost of many prescription medicines, the government’s own analysis shows. The government says allowing people to buy two months’ worth of medicine for the price of a one-month prescription will save patients up to $180 a year […]
More than 1½ years in the making, the state and federal governments have finally agreed to a $7 billion funding deal for the 2032 Brisbane Olympic and Paralympic Games. Prime Minister Anthony Albanese flew to the Queensland capital on Friday morning to sign the deal with Premier Annastacia Palaszczuk and outline the decisions yet to […]
