commodity prices

Millions of households will secure up to $500 in energy relief in the budget to help cover the cost of soaring bills.Treasurer Jim Chalmers has confirmed that cost of living relief will be the centrepiece of the budget, but it will be…

Renowned economist Nouriel Roubini, dubbed “Dr Doom”, has warned that the world is facing a looming “stagflationary debt crisis” that will be “the worst of all worlds for workers”.Speaking with ABC’s The Business on Thursday, Dr Roubini…

Westpac is now expecting Australia’s official cash rate to hit 4.1 per cent by May, with three brutal rate hikes looming in the months ahead.If the major bank is correct, it will bring interest rate to an 11-year peak – even higher than…

Australia could well be heading for a recession this year as economic growth stalls and interest rates keep rising, the National Australia Bank has warned.“Looking forward, we see growth slowing sharply as consumer spending comes under…

The performance of Australian central banking has soured for more than a decade. Before the Global Financial Crisis, forecasting and monetary policy seemed to run itself. Inflation was largely quiescent, exports were driven by China, and…

Since the colonies of Australia were first federated into a modern independent nation over 120 years ago, Australia’s economic fortunes relied on exports. At the nation’s founding in 1901, Australia was heavily reliant on agricultural…

Australians are increasingly turning to homelessness support as the cost of living and housing crises hit hard. Nearly 100,000 Australians experienced such financial hardship in 2022 that they needed to seek specialist homeless support, an…

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It’s been nothing but bad news for the Aussie budget for years on end – but it turns out things are actually starting to look up.That’s according to leading Australian economist Chris Richardson, who has revealed that 2022 is “on track for…

RBA governor Phil Lowe is good at taking a blow. He did so earlier this year when he suddenly backflipped from dovish guidance that the Reserve Bank would not raise interest rates before 2024. He did so again this week, to the many mortgage…