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High interest rates costing budget billions

Australian taxpayers will be soon paying more on interest rates than the National Disability Insurance Scheme, according to figures to be released in the latest economic update. The mid-year economic update, to be unveiled by Treasurer Jim…

Aussie dollar hits three-month high

The greenback slid against major currencies overnight to push the Australian dollar to its highest level in more than three months. The Australian dollar reached US66.14 on Tuesday morning, its highest since August 10. While markets expect…

ASX reaches eight week high

The Australian sharemarket surged on Wednesday after fresh US inflation figures buoyed Wall St as traders’ fears of further rate hikes eased.The S&P/ASX 200 index climbed 99.2 points, or 1.4 per cent, to reach 7105.9, its highest level…

Wages growth hits 14-year high

Annual wages growth has hit its highest levels in almost 15 years, after significant pay rises for award wage earners and aged care workers came into effect.But the figure likely represents a peak for wages growth, economists said, as the…