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The Latest Breaking News from Alan Oster

Public sector wages increase at second fastest pace in 14 years, ABS data shows

Private sector wages growth was up just 0.7% for the June quarter, the equal lowest since the end of 2021

The Guardian - AU

'Whole series of data' before next rates call: RBA

The Reserve Bank's outlook on inflation is little changed and more data is needed to build a fuller picture of the economy, the deputy governor says.

AAP

No interest rate relief predicted this year, major bank tells mortgage holders

ANZ first big bank to push prediction of Reserve Bank interest rate cut into 2025

The Guardian - AU

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Households keep falling behind as rate increases bite

Most borrowers are adapting to tough financial conditions but the number of people in hardship or struggling to meet repayments is growing.

AAP

Spending takes a hit as household budgets stretched

Higher interest rates and cost-of-living pressures have been weighing on household spending and the retail sector.

AAP

Interest rate rise unlikely after sluggish quarter of GDP growth, Australian economists say

Spending on Taylor Swift concerts defies pattern of consumers tightening their belts, with CBA predicting a September rate cut

The Guardian - AU

Coles faces competitive pressure from online retailers

The head of one of Australia's two big supermarkets says the sector is becoming increasingly competitive and online retailers are part of the story.

AAP

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Growth report likely to show households in pain

Households have been pinching their pennies as financial pressures intensify and that weakness is likely to show up in a soft economic growth print.

AAP

RBA boss hopeful for better year following hard 2023

Higher interest rates and cost of living pressures are hurting households and businesses, with the central bank governor acknowledging it's been a hard year.

AAP

Business pressures ease in promising sign for inflation

The uptick in cost and price pressures plaguing businesses looks to have been temporary in a promising sign for the inflation outlook.

AAP

Strong job numbers could mean more rate rises for Australia. Here’s why a recession isn’t a certainty

Reserve Bank appears determined to raise interest rates at least once more, even if Australia’s economy is slowing

The Guardian - AU

Wealth rises with $140 billion property price surge in early 2023

Australia’s housing market has surged by $140 billion in early-2023 amid an extraordinary rebound in property prices.

The New Daily

Storm clouds gather as Australia’s growth outlook slows

A key indicator for future economic activity has sunk to levels only seen during periods of extreme economic stress such as the pandemic.

The New Daily

Economists say federal budget unlikely to have much effect on interest rates

While the 2023 budget is unlikely to budge the RBA, experts are watching for inflationary pressure from a population boom and energy prices

The Guardian - AU

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The Guardian - AU

The IMF has painted a grim picture of the world economy. What does it mean for Australia?

Australian economists say the IMF outlook supports their case for a soft landing after the rapid rise in interest rates

The New Daily

Complacent mortgage holders stung by higher rates

Failing to swap to a better home loan rate could be costing mortgage holders hundreds of dollars extra per month.

The Guardian - AU

Australian banks predict another interest rate rise despite hopeful investor outlook

Big four banks believe RBA will lift cash rate by at least another 25 basis points though many predict rises are close to a peak

ABC News

Interest rate rises have Australians ready to slash spending, and businesses are bracing for the cuts

Australia's economy is still holding up on the back of household spending, but there are warning signs that a severe downturn is imminent — and small businesses are already seeing it in action.

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ABC News

Could interest rates in Australia fall after the collapse of two US banks?

If the Reserve Bank of Australia (RBA) wanted an excuse to end interest rate hikes, the collapse of two US banks just gave it one.

ABC News

'Recession risks are rising' but the latest GDP numbers are expected to show 'solid' growth

The latest economic growth figures are expected to show a robust economy. But the outlook for 2023 is far less rosy, warn many analysts.

ABC News

Consumers hopeful tide will soon turn on interest rates and home prices, but businesses gloomy

Households are hoping interest rates will reach their peak soon and home prices may start to rise. However, rising inflation and interest rates have businesses worried about the future.

The Guardian - AU

Dip in Australia’s inflation rate in October raises hopes price rises may have peaked

Headline CPI rate eases from 7.3% to 6.9%, lower than economists’ expectations, but fuel prices still rose as full excise rate returned

AAP

Demand strong, but biz confidence weakens

Australian firms are growing wary of an economic slowdown, but overall economic conditions remain robust, according to NAB's monthly business survey.

Crikey

No safety in numbers

At least 2.1 million of the 9.8 million victims of the Optus hack need to replace their ID, and there’s another rate rise on the cards today.

The Guardian - AU

Big issues at play could cause the RBA to make smaller cash rate hikes

Lower rises expected for the rest of the year, economists say, with the possibility of a pause in the longer term

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