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.
The International Monetary Fund says countries heavily dependent on China – such as Australia – have to get their budgets in order sooner rather than later.
Australian house prices are out-performing most of the world,even after inflation,but pressure is growing on the business sector.
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.
Productivity Commission chair Danielle Wood said the government’s push to subsidise manufacturing risks creating businesses that rely on handouts. And her predecessors agree.
While companies welcomed the budget boost promised to keep green tech in Australia,economist Saul Eslake says it will weaken the economy.
The controversial project was spruiked by Scott Morrison just months into his prime ministership and has since seen cost blowouts and conflicts of interest over key contracts.
Consumers have been struggling with high inflation,interest rates and tax for months – but there are signs the pressure on shoppers is moderating.
Andrew Leigh,a federal minister who is also a long-distance runner,races readers through the history of economics in his latest book.
The largest changes to the laws governing business mergers will be unveiled on Wednesday as the government seeks to make the economy more competitive.