Job figures could lead to longer wait for rate relief
One of Australia's major banks has shifted forecasts for when the Reserve Bank will lower interest rates, off the back of stronger than expected job numbers.
The economy
Roughly 47,000 new jobs were created in the Australian economy in August and the unemployment rate held firm at 4.2 per cent.
A leading economist has derided the coalition's plan to let people use super for housing as "one of the worst policy decisions" of his lifetime.
Mortgage holders are hoping Australia's central bank will copy the US Federal Reserve's cash rate cut, but the treasurer says the economic environment differs.
The economy
Supermarket policy not ‘anti-business’: Opposition
The peak business lobby has used its annual dinner to take a swipe at an opposition proposal to address anti-competitive behaviour in the supermarket sector.
The economy
Cafes and restaurants failing at higher rates
Food and beverage businesses are failing at the highest rate of all industries tracked by credit reporting bureau CreditorWatch.
Update
Cafe, pub splurge short-lived as consumer pain persists
Consumers opened their wallets last month for trips to the hardware store for Father's Day gifts as well as splurging on celebrations at pubs and restaurants.
Reserve Bank governor Michele Bullock says it's still premature to be thinking about interest rate cuts as she rams home the dangers of high inflation.
The Australian economy grew 0.2 per cent in the three months to June, taking the annual rate to 1.5 per cent – the lowest result since the pandemic.
Vehicle sales have slowed down in Australia, with passenger and petrol cars taking significant hits, but the industry says it is still a "positive result".
The runaway growth in Australian home values is finally slowing as more buyers are priced out of the market in several capital cities.
Retailers posted a flat month for sales in July following a few months of stronger spending as budget-constrained consumers made the most of mid-year sales.
Inflation rose to 3.5 per cent in the year to July, which was a decline from the previous period.
Wealth inequality is exacerbated through housing tax breaks geared toward higher income earners while poorer Australians struggle to pay rent, Anglicare says.
Cash may no longer be king but those who want to use it to buy a coffee or store wealth should be able to do so, the nation's payments tsar says.
Cost-of-living frustration can take many forms, says cartoonist PAUL DORIN.
Financial markets are betting on a rate cut before the end of the year, but Reserve Bank governor Michele Bullock has told parliament that would be too soon.
The jobless rate edged up slightly to 4.2 per cent in July, official figures show, but record participation will keep the Reserve Bank wary of cutting rates.
Consumers are becoming a little more optimistic, especially about the state of their personal finances.
