The jobs market remains tight despite continued cost-of-living pressures and lacklustre consumer spending - which may be bad news for interest rate cuts any time soon.
The bank’s job is to hold inflation between 2 and 3 per cent. Since mid-2014,it has hit that mark on just four occasions.
Treasurer Jim Chalmers will hand down his third budget in just over a month. Having Paul Keating,arguably the nation’s greatest economic reformer,as an idol is starting to weigh on him.
Consumers have been struggling with high inflation,interest rates and tax for months – but there are signs the pressure on shoppers is moderating.
Philip Lowe says the current tax system is hurting Australia’s productivity,with the GST rate too low and income tax too high.
The RBA board said it was not yet confident inflation was definitely tracking down in its estimated time frame. Here’s what the board will be watching closely to make sure it does.
The ups and downs of interest rates mean more to Australian families than they do to virtually anyone else on the planet.
Bank margins will continue to dwindle in the first half of this financial year,analysts say,as customers move their savings into higher-interest offerings.
After asking for financial support and walking away from $26 million on offer,Armaguard will try to negotiate with customers individually,but good faith may have eroded along the way.
The Reserve Bank says one-in-20 borrowers are in negative cash flow,but the rest are finding ways to make ends meet.
About 116,000 people gained jobs in February,far above expert expectations of 40,000 more people in work.