wages growth

The federal budget deficit forecast for this financial year has been slashed to just $1.1bn, all but guaranteeing Jim Chalmers will deliver back-to-back surpluses.In a move designed to ease inflationary pressures, the Mid-Year Economic and…

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…

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…

Tuesday’s budget is set to reveal that more than $17 billion in savings will be diverted in order to fund a suite of higher-priority measures. While the Treasurer has remained tight lipped over whether he’ll hand down the first surplus…

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…

This week witnessed the first interest rate cuts in a new monetary easing cycle that will overtake the Reserve Bank in the second half of 2023. The Commonwealth Bank quietly cut its three-year fixed mortgage rates 40 basis points to 5.59…

Aussie homeowners are at particular risk of home loan default, with the nation straining under a perfect storm of conditions. According to the International Monetary Fund’s (IMF) World Economic Outlook, Australia is facing the…

Australians have been warned the inflation crisis is set to linger longer than expected as the Treasurer ramps up his rhetoric ahead of the upcoming budget. Jim Chalmers, who will hand down his second budget on May 9, is in Washington for…

After slugging hardworking Aussies with 10 consecutive rate rises and failing to curb inflation, Reserve Bank of Australia officials have finally admitted they “did a terrible job”.Speaking at a panel in Melbourne on Wednesday, Ian Harper,…

The world is hurtling towards a recession, with the risks skyrocketing for richer nations – including Australia. That’s according to the International Monetary Fund (IMF), which issued to the dire warning in its World Economic Outlook…