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Australian economy

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Real wages to take larger hit as inflation pressures grow: Chalmers

Real wages to take larger hit as inflation pressures grow: Chalmers

Treasurer Jim Chalmers will update the country on the state of the economy next week. It will show an even larger than expected to hit to real wages.

  • by Shane Wright

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Rising interest rates to cost taxpayers an extra $13 billion

Rising interest rates to cost taxpayers an extra $13 billion

The budget bottom line is facing the same hit from higher interest rates as the household budgets of ordinary mortgage payers, the treasurer says.

  • by Shane Wright
Putin’s war aggravates Australia’s economic challenges: Treasurer

Putin’s war aggravates Australia’s economic challenges: Treasurer

“Russia’s ongoing invasion of Ukraine is a major obstacle to our goals,” Jim Chalmers told a G20 meeting in Bali.

  • by Rachel Clun
Philip Lowe and Reserve Bank about to face a moment of truth

Philip Lowe and Reserve Bank about to face a moment of truth

An outside review of the Reserve Bank - the first in decades - is imminent.

  • by Shane Wright
Supersized rate hike ahead after unemployment falls to shock low of 3.5 per cent
Updated
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Supersized rate hike ahead after unemployment falls to shock low of 3.5 per cent

The drop in unemployment increases pressure on the Reserve Bank to lift interest rates hard at its next meeting.

  • by Rachel Clun and Shane Wright
COVID caution can be a win for both public health and business

COVID caution can be a win for both public health and business

We don’t have to choose between health or the economy in responding to the COVID-19 crisis. In fact, it has been shown time and time again that controlling disease transmission leads to better economic outcomes.

  • by Hassan Vally
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‘Outrageous hangover from a bygone era’: Judge pensions costing taxpayers millions

‘Outrageous hangover from a bygone era’: Judge pensions costing taxpayers millions

The budget could save millions if a pension scheme that sees judges retire on 60 per cent of their salary is scrapped, Liberal senator Andrew Bragg says.

  • by Rachel Clun
Fix the budget and push up rates: IMF presses for inflation control

Fix the budget and push up rates: IMF presses for inflation control

The IMF is warning G20 treasurers to tighten their budgets and central banks to push up interest rates to prevent high inflation from becoming entrenched.

  • by Shane Wright
Household spending continues at pace despite dropping confidence

Household spending continues at pace despite dropping confidence

Reserve Bank interest rate hikes have dampened household confidence, but consumers are continuing to spend even as higher prices bite.

  • by Shane Wright and Rachel Clun
Clouds form for a new government with a busy agenda
Opinion
Opinion

Clouds form for a new government with a busy agenda

The treasurer has some tough decisions to make. They won’t be universally popular, but they will need to give Australian businesses the best opportunities.

  • by Cherelle Murphy
Albanese wants to borrow a page from Hawke’s playbook
Analysis
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Albanese wants to borrow a page from Hawke’s playbook

Anthony Albanese is repeating one of Hawke’s first acts in government - a summit to discuss the state of the economy and the future of work.

  • by Shane Wright