The signs are already evident that household consumption is falling despite most mortgage holders yet to feel the full effects of the rate rises. The Reserve Bank however believes more pain is needed.
The 300 basis point increase in the cash rates has delivered one of the biggest falls in lending ever seen. The risk of a recession to follow cannot be ignored
The cost of mortgages is soaring and households are spending less in the shops – the Reserve Bank should hold off on raising rates again next week
Most economists believe inflation has peaked and yet the Reserve Bank is still expected to raise rates next month despite real wages falling by more than 4% last year.
Home loans have fallen sharply in the past year, and the rate rises are clearly having a major impact. As such the Reserve Bank needs to wait before raising them again.
The latest enterprise agreements lodged with the Fair Work Commission show that wages continue to lag well below inflation
As price growth begin to slow around the world, the RBA needs to stop slamming on the brakes
The Stage 3 tax cuts will cost $300bn in their first 9 years. A new tool shows how we can spend the money better
The average annual wage growth in enterprise agreements not only remains well below inflation, it shows little sigh of increasing.
When you reduce the revenue available to fund government services, you inevitably increase inequality
Whether you are old or young, low or high income, working in construction or admin, a labourer or a manager, being in a union delivers you better pay.
As wages fail to keep up with inflation a record number of poeple are having to work more than one job to get by
Public services massively reduce inequality, but the Stage 3 tax cuts will make it much more difficult to fund them
The build up of savings during the pandemic is over – now we need strong income growth to keep the economy going as the Reserve Bank tries to slow it.
As approvals for public sector housing hit 2 year lows, the ambition for more public housing needs to be even greater than the government’s 20,000 in 5 years target.
For most of this year, the warnings and news about inflation have been one of hope for the best but experience the worst. Predictions of future inflation growth have continually been revised upwards and with it has been the suggestion that interest rates need to keep rising.
The latest economic outlook from the OECD highlights the precarious path for Australia over the next few years.
The latest wage rises from enterprise agreements show good improvement, but overall, workers continue to see their wages lag behind inflation
The latest wages price index figures show that for the first time since 2013 wages grew by more than 3% in the past year.
Russia’s illegal invasion of Ukraine caused a massive surge in gas and LNG prices that have enabled gas companies around the world, including Australia to make record-level profits.
The current tightening of monetary policy is undoubtedly having an impact. While it may take some time for the slowing of inflation to flow through to the official CPI figures – especially given the level of inflation that is being imported – the economy is set to slow drastically.
The latest enterprise agreements figures show small signs of wage growth and once again the benefits of being in a union
In 2020-21 the biggest companies in Australia were able to reduce their taxable income to just 12% of their total income
In the past 7 months, the Reserve Bank has increased the cash rate by 275 basis points. That is as fast as any time since the RBA became independent. Given the pace of inflation growth, the rises are not wholly without cause, but as policy director, Greg Jericho notes in his Guardian Australia column the main drivers of inflation are now easing, and wages are yet to take off. In that case, should the RBA continue to raise rates given it will only slow the economy further?
People around Australia have been seeing the advertised prices of rents increasing, now the inflation figures are catching up.
On Wednesday the latest inflation figures showed that in the 12 months to September prices across Australia grew by 7.3% – the fastest rate since 1990.
The Government acknowledges the need to get wages growing again, but the budget reveals just how big the task is
The latest data from the Bureau of Statistics on families shows that more than ever before couples with dependants are both working.