• Auctions up but Sydney drag on home prices
    AAP57 minutes ago

    Auctions up but Sydney drag on home prices

    Home sales across Australia's capital cities have edged higher in the past week, but softness in the Sydney market has continued to weigh on prices. The national auction clearance rate rose to 65.4 per cent in the week to November 19, preliminary figures from property data group CoreLogic show,

  • AAP3 days ago

    The business week in numbers

    Domain goes it alone on the ASX, commercial lending gets tight in September and NAB's Baird banks big bucks: here's a few of the numbers that grabbed attention - or should have - in the business world ...

  • Unemployment near a five year low at 5.4%
    AAP4 days ago

    Unemployment near a five year low at 5.4%

    The longest run of jobs growth in 23 years has taken the unemployment rate to to 5.4 per cent, its lowest level since 2013. Full-time jobs have increased by 297,900 in the past year, while part-time positions have grown by 57,800, resulting in a rise in the hours worked by those in the work force.

  • Pessimists rule as wage growth stays slow
    AAP5 days ago

    Pessimists rule as wage growth stays slow

    The strong rise in employment over the past 12 months and a four-year low in the jobless rate have failed to impact significantly on wages. The wage price index for the September quarter - the Reserve Bank's and Treasury's preferred measure of wages growth - grew 0.5 per cent for an annual rate

  • Rate rise fears hit consumer confidence
    AAP5 days ago

    Rate rise fears hit consumer confidence

    Fear of rising home loan rates and political uncertainty could be behind the fall in consumer confidence in November, with pessimists now outnumbering optimists. The Westpac Melbourne Institute Index of Consumer Sentiment fell 1.7 per cent in November to 99.7, ending the previous month's short-lived

  • Economists expect wage growth pick-up
    AAP5 days ago

    Economists expect wage growth pick-up

    The latest Essential Research survey found just three per cent thought politicians were not paid enough. Wage growth figures due on Wednesday may leave employees wondering if they should also be paid more. The wage price index for the September quarter - the Reserve Bank's and Treasury's preferred

  • Business turns blind eye to political woes
    AAP6 days ago

    Business turns blind eye to political woes

    Business conditions have struck their highest level in at least 20 years with companies seemingly turning a blind eye to Canberra's citizenship crisis. The National Australia Bank monthly business survey - which has been running since 1997 - also shows confidence holding above its long-run average

  • Govt hoping for economic lift from crisis
    AAP6 days ago

    Govt hoping for economic lift from crisis

    The Turnbull government will be hoping for some positive news on the economy this week to at least temporarily shift the focus away from the citizenship fiasco haunting parliament. With the government and Prime Minister Malcolm Turnbull's stocks tumbling in the latest Newspoll, Thursday's jobs

  • Banks, energy stocks weigh on lower ASX
    AAP7 days ago

    Banks, energy stocks weigh on lower ASX

    The Australian share market has closed slightly lower, dragged back by two of the big four banks - ANZ and Westpac - trading ex-dividend. The benchmark S&P/ASX200 index finished the day down 7.6 points, ...

  • Auctions rise but Sydney home prices slip
    AAP7 days ago

    Auctions rise but Sydney home prices slip

    Sydney home prices have again fallen while Melbourne's have remained flat, but more properties have gone under the hammer and the national auction clearance was higher last week. Property data group CoreLogic's weekly survey shows that the national auction clearance rate for the week to November

  • AAP7 days ago

    Home auctions rise, but well down on 2016

    Sydney home prices have again fallen while Melbourne's have remained flat, but the national auction clearance rate last week was better than the previous week's. Property data group Corelogic's weekly property survey shows that the national auction clearance rate rose to 66.5 per cent, up

  • AAP10 days ago

    Dire wages outlook keeps RBA on edge

    Australians can expect weak increases in their wages even as the unemployment rate drops and business investment starts to gather pace, according to the latest assessment of the economy from the Reserve Bank. The RBA has lowered its expectations for improvements in the stagnant inflation rate, saying

  • AAP10 days ago

    RBA signals rates on hold as growth drags

    The Reserve Bank of Australia has signalled it will likely keep the current historically low official interest rate unchanged as it waits for a slow return to healthy levels of inflation, wages and economic growth. Australia's inflation rate is expected to rise more slowly than the RBA expected

  • CBA's Q1 profit rises but so do its costs
    AAP12 days ago

    CBA's Q1 profit rises but so do its costs

    Commonwealth Bank has lifted its first-quarter profit to $2.65 billion but costs are also higher and could rise further. Australia's biggest bank said on Wednesday its unaudited cash profit for the three months to September 30 was six per cent higher than the average of each of the previous two

  • Wages and debt remain a concern for RBA
    AAP13 days ago

    Wages and debt remain a concern for RBA

    The central bank has opted for the safe bet and left interest rates on hold, as it continues to balance its expectations of improving economic growth with weak wages growth and high household debt. Leaving the cash rate unchanged at 1.5 per cent for a 15th consecutive month, Reserve Bank of Australia

  • Confidence wobble as Canberra fiasco bites
    AAP13 days ago

    Confidence wobble as Canberra fiasco bites

    Retailers hoping for a lift in consumer confidence to help turnaround last week's poor household spending figures will have been disappointed. Reserve Bank governor Philip Lowe would have also been hoping for better with his central bank board again voting to keep the cash rate steady for another

  • AAP13 days ago

    RBA bets safe, leaves rates on hold

    The central bank has tipped inflation will stay low for some time as it left interest rates unchanged for a 15th consecutive month. Reserve Bank of Australia governor Philip Lowe said the board expects the current low rate of inflation to gradually lift as economic growth improves. Dr Lowe said higher

  • RBA holds cash rate at 1.5%
    AAP13 days ago

    RBA holds cash rate at 1.5%

    The Reserve Bank has held the official interest rate at 1.5 per cent and maintained its forecast of a gradual improvement in economic growth in the year ahead. RBA governor Philip Lowe said the bank's forecasts for economic growth are largely unchanged, and it expects the low rate of inflation to

  • RBA tipped to keep rates on hold
    AAP13 days ago

    RBA tipped to keep rates on hold

    The Reserve Bank of Australia is expected to leave interest rates unchanged for the 15th month in a row on Tuesday, as it considers recent data that has indicated a mixed trajectory for economic growth. The Reserve Bank will announce its interest rate decision at 1430 AEDT on Tuesday.

  • AAP13 days ago

    Citizenship saga a cloud over confidence

    A series of confidence measures over the next couple of days will indicate whether both consumers and business have had enough of the citizenship saga engulfing federal parliament. A prominent businessman warned Canberra last week to get its act together because it was leaving consumers worried about

  • AAP14 days ago

    RBA tipped to sit tight on rates

    The Reserve Bank of Australia is expected to sit on interest rates for a 15th straight month as it weighs recent data that has indicated a weaker than expected trajectory for economic growth. An AAP survey of 13 economists show all are convinced the central bank will leave the cash rate unchanged at

  • AAP14 days ago

    How the major banks did in 2017

    Commonwealth Bank, Westpac, ANZ and National Australia Bank made a combined total of $31.5 million in profits in the 2017 financial year, up 6.4 per cent on 2016. Unsurprisingly, it was CBA - Australia's largest listed company - that topped the list with an eighth straight annual record of $9.88

  • RBA seems only sure bet on Cup day
    AAP14 days ago

    RBA seems only sure bet on Cup day

    As punters try to fathom who will win the Melbourne Cup, economists and academics suggest the only clear victors on Tuesday will be borrowers. While there is a global trend towards higher interest rates as central banks try to normalise their monetary policy settings, after their drastic actions during

  • Banks, miners lead ASX lower
    AAP14 days ago

    Banks, miners lead ASX lower

    The Australian share market is slightly lower with the banks, telcos and miners offsetting strong gains by the energy companies. At 1200AEDT on Monday, the benchmark S&P/ASX200 index was slightly lower, ...

  • RBA seems only dead cert on Cup day
    AAP14 days ago

    RBA seems only dead cert on Cup day

    As punters try to fathom who will win the Melbourne Cup, economists and academics believe the only clear result on Tuesday will be the Reserve Bank leaving the cash rate on hold again. The central bank board will hold its monthly meeting on Tuesday and is expected to announce - 30 minutes before Australia