• AAP2 months ago

    Lavish budget may bring forward rate rise

    A group of academics and economists believe it would make sense for the Reserve Bank to raise the official cash rate this week faced with a potentially generous budget on May 8. If they prove correct, it would put a major dent in the Turnbull government's budget preparations - likely to be the last

  • Australian share market set to open flat
    AAP2 months ago

    Australian share market set to open flat

    Little movement is expected on the Australian share market at the start of the new trading week with no major influences from overseas. The Dow Jones fell 11.15 points, or 0.05 per cent, while the S&P 500 gained 0.11 per cent and the Nasdaq up 0.02 per cent. "With that lead in from Wall Street

  • AAP2 months ago

    Soft Sydney weighs on capital home prices

    A downturn in Sydney home values continues to have a stifling effect on combined property prices in Australia's capital cities. Combined average prices in Sydney, Melbourne, Brisbane, Adelaide and Perth were steady in the week to April 22, and have slipped 0.1 per cent in the past four weeks, the

  • Inflation up, but still below RBA target
    AAP2 months ago

    Inflation up, but still below RBA target

    The CPI undershot economists' forecasts for a 0.5 per cent lift, and was slower than the December quarter figure of 0.6 per cent, figures from the Australian Bureau of Statistics on Tuesday showed. The annual headline rate was 1.9 per cent, below the central bank's two to three per cent target

  • Gas prices up in benign inflation result
    AAP2 months ago

    Gas prices up in benign inflation result

    New inflation figures confirm Australia won't be joining the US in raising interest rates any time soon, a relief to highly indebted households at a time of low wages growth. While Reserve Bank governor Philip Lowe and his central bank board may be convinced the next move in its cash rate will be

  • AAP2 months ago

    Inflation rate at 0.4% in March quarter

    Australia's inflation rate has picked up a bit more pace in the March quarter, edging the annual headline rate closer to the Reserve Bank of Australia's two to three per cent target. The consumer price index rose 0.4 per cent in the three months, missing economists' expectations for a 0.5

  • No trigger for rate hike from subdued CPI
    AAP2 months ago

    No trigger for rate hike from subdued CPI

    Reserve Bank governor Philip Lowe and his central bank board may be convinced the next move in interest rates will be up, but new inflation figures suggest this is still a long way off. The consumer price index for the March quarter rose just 0.4 per cent, keeping the annual rate at 1.9 per cent and

  • Inflation expected to be tame yet again
    AAP2 months ago

    Inflation expected to be tame yet again

    Reserve Bank governor Philip Lowe and his central bank board are convinced the next move in interest rates will be up. Economists expect the consumer price index to grow by 0.5 per cent in the quarter, keeping the annual rate at 1.9 per cent and just below the central bank's two to three per cent

  • Home values steady for second week
    AAP2 months ago

    Home values steady for second week

    Property prices around Australia's capital cities have remained flat over the past month and are now showing a drop of more than one per cent on average so far in 2018 due to continuing weakness in the ...

  • AAP2 months ago

    Consumers to restrain growth: Deloitte

    A prominent economist says a strong global economy is doing Australia a huge favour but low interest rates have left families stretched, with consumers to provide less support to growth this year and next. "Australia's outlook remains good but seems likely to fall shy of being great,"

  • Jobs gain closes on 1 million govt target
    AAP2 months ago

    Jobs gain closes on 1 million govt target

    The coalition has all but fulfilled an election promise made in 2013 by former prime minister Tony Abbott to create one million jobs in five years. New Australian Bureau of Statistics data released on Thursday shows between October 2013 and March 2018 999,900 people have gained employment. Employment

  • Employment up for 18th consecutive month
    AAP2 months ago

    Employment up for 18th consecutive month

    The coalition has fulfilled one of its election promises made in 2013 by former prime minister Tony Abbott by seeing one million jobs created under its watch. New figures on Thursday show employment grew for a record 18th consecutive month, albeit by a slim 4900 new jobs in March. The March result

  • Australia on course to extend jobs run
    AAP2 months ago

    Australia on course to extend jobs run

    If economists are right, Australia has clocked up 18 consecutive months of employment growth for the first time since records began. The jobless rate is expected to return to 5.5 per cent after unexpectedly ticking up to 5.6 per cent in February as more people sought work. In its latest World Economic

  • Market gains drifts away after RBA minutes
    AAP2 months ago

    Market gains drifts away after RBA minutes

    The Australian share market has closed almost flat, with early gains drifting away following the Reserve Bank's comments that the next interest rate movement will likely be up. The benchmark S&P/ASX200 index was up 0.2 of a point at 5,841.5 points at 1615 AEST, with the broader All Ordinaries index

  • RBA minutes to flesh out rate thinking
    AAP2 months ago

    RBA minutes to flesh out rate thinking

    The Reserve Bank will flesh out its latest interest rate deliberations when it releases the minutes of its April 3 board meeting on Tuesday. Since the board meeting, governor Philip Lowe again warned the next move in the cash rate will likely be up, reflecting an improvement in the economy. In Dr Lowe

  • Home values steady but auctions lift
    AAP2 months ago

    Home values steady but auctions lift

    Perth has shown a slight increase in home prices on a monthly basis, while most other capital cities' values have fallen. Western Australia's capital reported a 0.3 per cent lift in home values last week ...

  • AAP2 months ago

    Home loan approvals better than expected

    The number of home loan approvals for owner-occupiers fell slightly in February but were better than expected. Data from the Australian Bureau of Statistics showed that housing finance approvals fell 0.2 per cent in February to 54,427, beating market expectations of a 0.4 per cent fall. JP Morgan analyst

  • Budget an opportunity for Turnbull revival
    AAP2 months ago

    Budget an opportunity for Turnbull revival

    Next month's budget provides the opportunity for a political reset for Malcolm Turnbull after his coalition government slumped to 30 consecutive Newspoll losses against Labor this week. It was one benchmark the prime minister set for rolling Tony Abbott as Liberal leader in September 2015, although

  • AAP2 months ago

    Home loan approvals down 0.2% in Feb

    The number of home loan approvals for owner occupiers fell 0.2 per cent in February, beating market expectations of a 0.4 per cent fall. The value of total housing finance was up one per cent at $33.524 billion for the month, seasonally adjusted data from the Australian Bureau of Statistics shows.

  • AAP2 months ago

    Sydney house prices down $40k in a year

    The property slowdown in Sydney has taken around $40,000 dollars off the median price of a house in Australia's largest market in just 12 months. Sydney median private sale houses prices last week were ...

  • AAP3 months ago

    End of housing slowdown in sight: ANZ

    Home prices are still moderating, but the worst of the slowdown is over, with ANZ predicting a soft take off to follow the current soft landing. National home values are 0.8 per cent higher than the same time last year, a hard brake on the 10 per cent annual growth recorded a year earlier, the latest

  • Economists unconvinced by retail surge
    AAP3 months ago

    Economists unconvinced by retail surge

    Department store sales helped retail spending rebound sharply in February, but economists aren't getting carried away by the surprisingly strong rise. Seasonally adjusted retail spending rose 0.6 per cent to $26.4 billion in the month, according to the Australian Bureau of Statistics. Department

  • Aussie dollar up on fab Feb retail sales
    AAP3 months ago

    Aussie dollar up on fab Feb retail sales

    Australian retail spending has rebounded sharply in February, helped by stronger business at department stores and a lift in sales for household goods and clothing, footwear and personal accessories. Seasonally adjusted retail spending rose to $26.4 billion in the month, according to the Australian

  • RBA leaves cash rate unchanged at 1.5%
    AAP3 months ago

    RBA leaves cash rate unchanged at 1.5%

    The Reserve Bank of Australia has left the cash rate unchanged at 1.5 per cent, with the central bank board continuing to worry about weak wages growth . The RBA board's decision, announced following its April board meeting on Tuesday, means Australia's official interest rate has been at a record

  • RBA holds cash rate at 1.5%
    AAP3 months ago

    RBA holds cash rate at 1.5%

    The Reserve Bank has left the cash rate unchanged at 1.5 per cent.