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The Latest Breaking News from David Bassanese

Aussie shares rally as hopes grow for February rate cut

The ASX200 has risen 0.6 per cent to approach its all-time high after cooling inflation increased the chances of an earlier interest rate cut.

AAP

Inflation figures to ‘make or break’ the case for an Australian pre-election February rate cut

Release of December quarterly CPI may be the most politically consequential set of numbers in recent times

The Guardian - AU

Aussie shares give up gains after strong jobs report

The ASX200 has finished down 0.3 per cent, having plunged 25 points in two minutes after a "blockbuster" labour market report made a February rate cut unlikely.

AAP

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Australia’s annual inflation sinks to 2.8%, the lowest rate in more than three years, increasing chance of rate relief

Electricity prices fell by 17.3% in the latest quarter, while automotive fuel also fell 6.7%, increasing the chance of near-term interest rate reductions

The Guardian - AU

Dollar hits 19-month high, miners gain as banks fall

The ASX200 dropped 0.2 per cent, while miners gained and the local currency hit its highest level in 19 months on China's aggressive stimulus measures.

AAP

Australian shares notch up five-day winning streak

The ASX200 rose 0.2 per cent, despite a mixed labour market report that could keep domestic interest rates on hold through 2024.

AAP

US recession fears 'nail in coffin' for RBA hike chance

Concerns about the state of the United States economy will add to the case for no change at an upcoming central bank interest rate meeting, economists say.

AAP

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Australia’s inflation rises to 4%, stoking concern interest rates could increase again

The consumer price index increased to its highest level in 2024, indicating the Reserve Bank is unlikely to cut interest rates soon

The Guardian - AU

Iron ore giants, lithium miners drag on local shares

The Australian bourse gave up most of the previous day's gains, with the mining sector dropping 2.1 per cent, its worst day in nearly three months.

AAP

Australian shares warm up as inflation loses more heat

The local share market finished 0.3 per higher after October's inflation readout came in cooler than expected.

AAP

RBA interest rates: Australian borrowers given reprieve as Reserve Bank pauses again

The RBA has left the official cash rate on hold at 4.1%, the highest level since 2012, in line with investors’ expectations

The Guardian - AU

Mortgage affordability in ACT at its worst since 1990

It hasn't been this tough since 1990. The cash rate was 17 per cent at the time.

The Canberra Times

Chalmers defends budget’s ‘meaningful’ help amid split on interest rate risks

Treasurer Jim Chalmers has defended his second budget as offering "meaningful relief to households" – while not contributing to inflation.

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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ABC News

US authorities 'auction' First Republic Bank to JPMorgan after second biggest bank failure in history

US regional bank First Republic had a little more than $301 billion worth of assets and around 7,000 employees.

The Guardian - AU

Latest economic figures show Australia’s inflation easing ahead of RBA interest rate decision

The consumer price index for the first three months of 2023 has come in at an annual rate of 7%, down from the 32-year high of 7.8%

The New Daily

Michael Pascoe: The fallacy at the heart of the Reserve Bank of Australia review

Instead of tackling the fallacy and lie, the review came up with this: 'There should be increased joint work between Treasury and the RBA'.

AAP

More economists predicting RBA will pause rate hikes

Westpac, St. George, HSBC, JP Morgan and AMP now expect the Reserve Bank won't raise rates in April - but ANZ and CBA still forecast a rate hike.

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ABC News

Corporate Australia has reported big profits as inflation has soared. Is it profiteering?

Soaring inflation has delivered major profits to big businesses this reporting season, but with consumers spending more, could corporate Australia be accused of profiteering? This is what the experts say.

ABC News

The risk of Australia entering recession has just risen

From a drop in retail sales to falling house prices, there are signs pointing towards a recession in Australia. How will the Reserve Bank respond?

The Guardian - AU

China’s economy slows sharply with GDP growth among worst on record

The economy grew 3% in 2022, exceeding some forecasts, but still well below China’s official target for the year

The Guardian - AU

Australian coal industry says China market matters less than before, even if import ban ends

Queensland Resources Council says industry would welcome restrictions easing but new long-term customers since found elsewhere in Asia

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

ABC News

The Aussie dollar is dropping against the US currency, but it’s not all bad news

A higher US dollar isn't great news for global trade, but some Australian businesses are able to benefit and travellers have reason to smile as well.

The New Daily

Superannuation slips in August, but overall returns are strong

Super returns slipped slightly in August as international share and money markets turned volatile but overall returns are strong.

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