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UNBELIEVABLE: 20 | History Defined

Australia’s 3.8% inflation rate is concerning, but not enough to trigger a rate rise

After falling for five consecutive quarters to less than half of its 7.8% peak, inflation climbed slightly in the June quarter, from 3.6% to 3.8% for the year to June.

The Conversation

Why the RBA is highly unlikely to lift interest rates next week, even as inflation climbs

The inflation figure due to be released today is different than most. It’s focusing the minds of politicians as well as economists.

The Conversation

Almost 1 in 6 of the world’s banknotes feature wildlife – and they’re not always the creatures you’d expect

Banknotes and coins help shape our national identity. The images they display emphasise historical events, prominent personalities, or scientific, industrial and technological advances. Sometimes they highlight biodiversity, including distinctive plants and wildlife.

The Conversation

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Mortgage stress rose in June with 1m Australian households ‘extremely at risk’, report says

RoyMorgan report says stage-three tax cuts should ease burden unless jobs market falters or Reserve Bank raises interest rates again

The Guardian - AU

Australian shares dip amid tech sector sell-off

The ASX200 has fallen 0.3 per cent with the small tech sector suffering its worst loss since April after a similar sell-off in the US.

AAP

Australian workers’ living standards have been destroyed – and there is little good news ahead

While interest rates may have peaked, the labour market is fragile and the economy is set to slow even further

The Guardian - AU

Low inflation targeting is such a dubious idea. Why did the Reserve Bank adopt it in the first place?

As we struggle with higher interest rates and unemployment, this is the price we have to pay to restore the ‘credibility’ of the RBA

The Guardian - AU

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Will digital currencies become the norm as the world moves towards a cashless society?

More than 90% of the world’s central banks are looking at introducing a central bank digital currency (CBDC), to complement existing banknotes.

The Conversation

Cheaper mortgages, tamed inflation and even higher home prices: how 29 forecasters see Australia’s economic recovery in 2024-25

Australia’s top economic forecasters expect the Reserve Bank to start cutting interest rates by March next year, taking 0.35 points of its cash rate by June.

The Conversation

Albanese links new energy plan to cost-of-living crisis

Cost-of-living support in the form of tax cuts and higher pay for minimum-wage workers are among changes to come into effect in the new financial year.

AAP

Australia’s inflation rate jumps to 4%, putting an RBA rate rise back on the agenda

A key measure of inflation has jumped, climbing to 4% in May after edging up from a recent low of 3.4% in February.

The Conversation

Australia’s inflation rises to 4%, stoking concern interest rates could increase again

The consumer price index increased to its highest level in 2024, indicating the Reserve Bank is unlikely to cut interest rates soon

The Guardian - AU

Inflation gauge to offer cold comfort for borrowers

May consumer price data gives the Reserve Bank another glimpse of how interest rate levels are working to bring inflation to heel.

AAP

Please stop obsessing over words. It’s quite simple: the RBA thinks inflation is too high

These days every word of every statement from the Reserve Bank Governor Michele Bullock is pored over in minute detail – as is every word uttered at her press conference after each Reserve Bank board meeting.

The Conversation

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AAP

Inflation-wary Reserve Bank spells long wait for cuts

Stalling progress on inflation has the central bank on high alert as political sparring continues over the impact of state and federal budgets on prices.

The Guardian - AU

Treasurer touts ‘responsible’ 2024 NSW budget in tough economic times – but others will make that call

Rating agencies and the RBA among those marking the treasurer’s handiwork which he says is focused on spending restraint

AAP

Australian shares finish lower as RBA decides on rates

The ASX200 has fallen 0.3 per cent, with losses for uranium producers and gains for goldminers, as investors await the outcome of the RBA's two-day meeting.

AAP

'Barely growing': economy limping as rate pain builds

The economy is still expanding - but only just - after households opened the purse strings for concerts and other one-off events in the March quarter.

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The Guardian - AU

Minimum wage workers in Australia to get a 3.75% pay rise over the next 12 months

Fair Work Commission lifts minimum wage to $24.10 an hour from July, with the rise outpacing the government’s forecast inflation rate

The Conversation

Top economists give budget modest rating and doubt inflation will fall as planned

Asked to grade Treasurer Jim Chalmers’ third budget on his own criteria of delivering on “inflation in the near term and then growth in the medium term”, most of the 49 leading economists surveyed by the Economic Society of Australia and The Conversation have failed to give it top marks.

The Conversation

What’s the difference between fiscal and monetary policy?

This article is part two of The Conversation’s “Business Basics” series where we ask leading experts to discuss key concepts in business, economics and finance.

AAP

'Abandoning customers': lenders fail battling borrowers

Mortgage stress in Australia is at its highest level since the global financial crisis but many borrowers are finding it too hard to get help from their bank.

The Guardian - AU

Is the 2024 budget inflationary? Warwick McKibbin and other economists say ‘yes’

Former RBA board member among experts who say Albanese government’s third budget is likely to at least delay next interest rate cut

The Guardian - AU

Those calling for higher interest rates in Australia should be careful of what they wish for

We need to avoid replicating the experience of the 1990s, when taming inflation involved destroying the economy

AAP

Markets simmering as five-day rally peters out

The ASX200 closed marginally higher across most sectors as a medical tech company recorded eight per cent growth in one day.

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