Adam Schwab: How Philip Lowe’s failures could help send Australia into a recession
Inflation and rising interest rates are pushing Australia towards a likely recession. And on the list of culprits, RBA governor Philip Lowe is very near the top.
“Hard economic landing”: Builders urge RBA to take its time on another interest rate hike as construction faces the brink
The construction industry is weighing the need to combat inflation against the likelihood rising interest rates will deter new home buyers.
RBA hikes cash rate target 0.5% to 1.35%, matching market predictions as the central bank battles inflation
The Reserve Bank of Australia hiked the cash rate target 0.5% on Tuesday, matching market expectations as the central bank battles inflation.
The RBA was slow to cut interest rates pre-COVID, and it may have cost 270,000 jobs
Research found that between 2016 and 2019 the RBA dramatically under-performed in achieving its two key goals of full employment and price stability.
A recession isn’t “imminent”, US Treasury chief says, as the Australian market watches on
There is no guarantee America will lean into a recession, the nation's Treasury Secretary Janet Yellen says, as spiking inflation and dwindling consumer confidence stoke fears of a broad-scale downturn.
Why the RBA won’t continue to raise rates at the level the market expects
The RBA, in a nod to homeowners concerned about continual rate hikes, said it expected inflation to climb just a bit more before declining back towards its target next year.
RBA tipped to increase cash rate tomorrow by 0.25%
While some market economists are forecasting a 40 basis point increase, most are expecting a 0.25% increase to the cash rate from the Reserve Bank tomorrow.
Small business wages are outpacing national average as SMEs face rising cost pressures, report says
Wages paid by Australian small businesses grew 4.1% in April 2022 compared to April 2021, accounting software provider Xero says.
Australia’s unemployment rate officially begins with a ‘3’. What now?’
Thursday’s figure for the month of April has broken the 4% barrier, with unemployment in Australia officially sitting at 3.9%.
‘You are not anonymous’: Tax office goes after 40,000 people in $850 million scam
The con involved creating a sham business and ABN application, and then submitting falsified business activity statements to receive a fraudulent GST refund.
How the RBA being too aggressive on interest rates could cause a recession
Australia's latest burst of inflation is weird, and resistant to rate hikes. If the RBA isn’t careful, too many more rate hikes like this might help bring on a recession.
Why the RBA still might hold off on raising interest rates despite rising inflation
Will the Reserve Bank of Australia raise interest rates today? The market is not quite as sure as a week ago.
