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The Latest Breaking News from Shane Oliver

Rate cuts on horizon in mixed 2025 for the economy

Borrowers can expect cashflow relief from interest rate cuts in 2025, yet a further deterioration in the jobs market will also start to be felt.

AAP

Harris vs Trump: The final day

Americans go to the polls tomorrow after a long and gruelling election campaign, and the RBA’s announcement today is unlikely to bear good news for those wanting an interest rate drop.

Crikey

RBA tipped to keep rates steady for 12th straight month

Interest rates have been kept on hold for almost a year and are broadly expected to stay there until cuts start in early 2025, provided inflation keeps easing.

AAP

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ASX ends worst week since August after global sell-off

The ASX200 has fallen 0.5 per cent after worrying earnings forecasts from US tech stocks and diminishing rate cut hopes in Europe dampened risk sentiment.

AAP

Aussie shares edge higher, snapping two-week win streak

The ASX200 finished less than a 10th of a percentage point higher, with Tuesday's big loss putting it in the red for both the week and the month.

AAP

Spring brings brighter outlook as rate hike fears fade

As signs of improving consumer and business confidence emerge, economists are speculating the Reserve Bank might be shifting its thinking on interest rates.

AAP

Retail sales to show economy continues to sputter along

The Australian economy should show further signs of modest growth in upcoming retail trade figures but investors will be more interested in US jobs data.

AAP

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Commonwealth Bank still predicts interest rate cut in 2024 as RBA defends keeping cash rate on hold

Reserve Bank’s chief economist says it is ‘difficult’ to hear the stories of those who ‘are struggling’

The Guardian - AU

Aussie market sell off 'merely a blip'

The ASX200's 5.8 per cent plunge over Friday and Monday was uncomfortable, but pullbacks are the price of investing in the stock market, experts say.

AAP

Australian dollar set to rise into 2025, experts say

With the US Federal Reserve now seen as likely to aggressively cut interest rates in 2024, the Australian dollar could reach 70 US cents.

AAP

Tax cuts, rates chatter to play into consumer sentiment

Consumer and business confidence surveys are due out this week and are likely to show ongoing weakness to reflect a waning economy.

AAP

'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

'Painful squeeze': inflation spike renews heat on rates

Surprisingly strong inflation has resurrected the possibility of another interest rate hike in an unsettling development for squeezed borrowers.

AAP

Neoliberals want an austerity budget, but the economy doesn’t need savage cuts

There’s pressure on Labor to produce a contractionary budget next week. But the economy is already weak as rate rises inflict a huge toll.

Crikey

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AAP

Armaguard seeks new talks after $26m deal rejected

Armaguard is still keen to negotiate a cash injection from some of the nation's biggest banks and retailers after rejecting a $26 million deal.

AAP

Thrifty December cures sales-fuelled debt hangover

Many shoppers racked up credit card bills during the November sales but the damage could have been worse given acute financial pressures.

AAP

Unemployment to stay low despite drop in job vacancies

Job vacancies for the November quarter remained high despite a drop of 0.7 per cent, with unemployment tipped to stay low amid global economic pressures.

The Guardian - AU

Cost overruns threaten to define Jacinta Allan’s premiership as Victoria’s ‘big build’ faces huge budget blowouts

State’s infrastructure spending under scrutiny as some analysts say government is fuelling construction market price rises

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AAP

Australian shares gain ahead of crucial US jobs report

The ASX200 rose 0.4 per cent on Friday to finish the week down 1.2 per cent, before a non-farm payrolls report in the United States.

Crikey

Fiddling with interest rates won’t alter inflation — or change that we’re running out of workers

While supply-driven inflation is persisting, interest rate hikes have smashed demand, including for workers.

AAP

Housing recovery entrenched but pace of growth eases

Home values continue to rise but growth has slowed amid more advertisements for stock and the toll of higher interest rates and cost of living pressures.

AAP

September share losses worst monthly hit for a year

The local share market has finished the day 0.3 per cent higher but ended September down 3.5 per cent in its worst month since September 2022.

The Guardian - AU

NSW budget: Labor points to ‘decade of neglect’ but lack of housing showstopper may leave voters underwhelmed

NSW treasurer Daniel Mookhey points to ‘largest debt any incoming state government has ever inherited’ as he hands down party’s first budget in more than a decade

AAP

Petrol price surge further stretches household budgets

Motorists have been hit in the hip pocket by petrol price rises and the latest spike may put a dent in the Reserve Bank's fight against inflation.

AAP

New RBA governor to send the right message on rate talk

A leading economist says the Reserve Bank's new governor brings monetary policy credibility while the treasurer praises her leadership and communication skills.

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