ASX: The local share market is expected to have a subdued start to the day after US stocks fell overnight as mixed economic data and hawkish comments from a Federal Reserve official fueled concerns the central bank may not ease its aggressive policy tightening.
St Louis Federal Reserve president James Bullard said "have had only limited effects on observed inflation", and that the central bank needed to continue raising interest rates by at least another full percentage point.
More pain for the UK: Britain faces a record hit to living standards this year as surging inflation erodes incomes, the country's budget forecasters warned, after Finance Minister Jeremy Hunt announced more pain, .
The Office for Budget Responsibility said household disposable incomes would fall by 4.3 per cent in the current financial year and by 2.8 per cent in 2023/24, the sharpest declines in records dating back to the 1950s.
Affordable homes still scarce: Australia’s property market is cooling off but the downturn is concentrated at the premium end of the market, with affordable properties becoming harder to find.
Despite rising interest rates triggering a slowdown in the residential property market, the share of homes advertised on the site for less than $600,000 has plunged to 35.8 per cent.
Also read: 32,00 jobs added as unemployment falls
Stamp duty stoush: NSW Premier Dominic Perrottet has accused the opposition of being out of touch for opposing his first home buyer reforms, as the NSW parliament sits for its final day before the March 23 election.
First home buyers are now able to choose between paying a lump sum of stamp duty, or a smaller annual land tax on their property.
Early learning summit: In some good news for young Australians and their parents, the Federal Government has announced it will host a in February as it builds its "whole-of-government approach" for Australia's children.
The Government's early-years strategy, to be unveiled on Friday, will coordinate programs and funding directed at children and ensure accountability isn't lost through efforts being scattered across various departments.