Business, union divisions threaten to derail PM summit
The prime minister hopes business groups and unions will unite to address a lagging economy but there are already signs of division before a planned summit.
The economy
More rate cuts might be needed to boost Australia's fragile economy with soft household consumption figures contributing to stalled growth.
Uncertainty in global markets from Donald Trump's tariffs could lead to the Reserve Bank being more aggressive with interest rate cuts.
The prospect of more interest rate cuts has pushed house prices to record highs and is expected to continue fuelling growth for the rest of the year.
Update
Warm weather, Cyclone Trump hit consumer recovery
Australia's economic momentum remains fragile with unseasonably warm weather and consumer concern contributing to weaker retail sales.
The economy
Inflation holds steady despite sharp rise in egg prices
Australia's headline inflation rate held steady at 2.4 per cent in April, after a sharp rise in egg prices was somewhat offset by falling electricity costs.
Update
Trump’s tariff ‘rollercoaster’ raises recession risk
Donald Trump's trade war has clouded economic forecasts as Australia's central bank seeks to thread the needle to avoid the nation tipping into a recession.
The official cash rate has a three in front of it for the first time in two years, after the Reserve Bank cut interest rates by 25 basis points, as expected.
The Reserve Bank is widely expected to deliver a second interest rate cut as global trade uncertainty threatens to rain on Australia's economy.
An unexpected jump in employment has led the money market to pare back its hopes for further mortgage relief after a widely expected rate cut next week.
Workers have enjoyed their sixth consecutive quarter of pay packet growth as all eyes turn to the Reserve Bank's upcoming decision on interest rates.
An index measuring consumer sentiment is improving after the US tariff announcements, but Australians are warned the economic impact still remains uncertain.
While some Australians are keenly awaiting the Reserve Bank's next interest rate cut, many Aussies are still doing it tough as living costs continue to bite.
Western Australia has cemented its spot at the top of the latest CommSec State of the States rankings, but another state's climb comes as more of a surprise.
Australia is not following the "bouncing ball" of Donald Trump's daily shifts, the treasurer says, amid predictions of a bigger-than-expected economic hit.
Donald Trump's latest attack on a pillar of the global economy could renew market stress as Australian homeowners eye a supersized rate cut.
Australia's jobs market is holding up better than expected, but the impact of Donald Trump-imposed tariffs is yet to play out across the globe.
A record-high 9.4 per cent of food service and hospitality businesses shut their doors in the year to March as cost pressures weighed heavily on households.
Equities and commodities have whipsawed at the whims of erratic US trade policy but worrying signs are emerging in the plumbing that holds markets together.
