Markets

Your 10-second guide to today’s Australian GDP report

Australia will receive its latest economic report card today with the release of March quarter GDP. After a sharp slowdown in the final three months of 2017, partially reflecting temporary disruptions to Australian commodity exports, growth is expected to accelerate sharply in the March quarter, boosted by household consumption, government […]
Your 10-second guide to today’s Australian GDP report
Markets

Moody’s just cast doubt over the Australian government’s plan to deliver an earlier budget surplus

Australia’s federal government expects to deliver a budget surplus in the 2019/20 fiscal year, 12 months earlier than previously forecast. Moody’s Investors Service says an earlier return to surplus is unlikely, citing concerns about the government’s expenditure and revenue projections. It still believes the budget underscores Australia’s fiscal strength, noting […]
Moody’s just cast doubt over the Australian government’s plan to deliver an earlier budget surplus
Markets

Here’s what economists are saying about Australia’s wage report

Australian hourly wage rates excluding bonuses increased by just 0.47% in the March quarter, leaving the annual increase unchanged at 2.07%. The vast majority of economists expect weak wage growth will persist until unemployment levels fall. The RBA and federal government expect wage growth to accelerate in the years ahead. […]
Here’s what economists are saying about Australia’s wage report
Markets

There’s still no sign of a wage pick-up in Australia

Australian wage growth remains weak, especially for private sector workers. Unemployment is elevated, and expected to remain that way for some time. The RBA is banking on faster wage growth to to help lift inflationary pressures. Australia’s March quarter wage price index (WPI) has come in below expectations, casting renewed […]
There’s still no sign of a wage pick-up in Australia
Markets

Your 10-second guide to today’s Australian wage report

Australia’s March quarter Wage Price Index (WPI) will be released later today. If you haven’t heard of it, perhaps you should. Few things are more important in Australia right now than wage growth, at least from a monetary and fiscal policy perspective. The Reserve Bank of Australia (RBA) is looking […]
Your 10-second guide to today’s Australian wage report
Markets

Rising petrol costs could wipe out Scott Morrison’s income tax cuts

One of the big stories in global financial markets at the moment is the rising price of oil. Crude prices have climbed by more than 25% since mid-February, as OPEC’s ongoing production cuts re-balance the global supply picture while renewed tensions in the Middle East have also helped push prices […]
Rising petrol costs could wipe out Scott Morrison’s income tax cuts
Markets

Macquarie has some bad news about the tax cuts in the Australian budget

Australia’s federal budget included a proposal to lower income taxes for low and middle income workers. New analysis from Macquarie Bank suggests households will still end up paying more in come taxes, even with the proposed cuts. Macquarie says this could allow for further tax relief to be announced ahead […]
Macquarie has some bad news about the tax cuts in the Australian budget
Markets

So much of the Australian economy now hangs on getting pay rises

Few things are more important in Australia right now than wage growth, at least from a monetary and fiscal policy perspective. The RBA expects wage growth to help boost inflation, allowing it to lift interest rates. The federal government is also banking on a strong pickup in wages to deliver […]
So much of the Australian economy now hangs on getting pay rises
News

‘We can do better than this’: Bill Shorten’s Budget reply speech

My fellow Australians. As I listened to the Government’s fifth budget on Tuesday night, I knew immediately: We can do better than this. The people of Australia deserve better than this. And a Labor Government will deliver better than this. Better than ten years of cuts to schools and hospitals […]
‘We can do better than this’: Bill Shorten’s Budget reply speech
News

Funding for Australia’s corporate watchdog has been cut by $26 million

While the government pushes ahead with plans for corporate tax cuts, the federal regulator charged with keeping those businesses in line, the Australian Securities and Investments Commission (ASIC) will get cuts too — to its funding. Buried in the budget papers, the AFR discovered ASIC’s budget will be cut by […]
Funding for Australia’s corporate watchdog has been cut by $26 million
Markets

The growth in Australian government debt since the GFC, in one chart

The Australian government has been running budget deficits since the GFC, meaning its had to issue debt to finance the shortfall. The total value of outstanding Australian government bonds is expected to peak at $558 billion in 2027-28, some $126 billion lower compared to estimates offered just six months ago. […]
The growth in Australian government debt since the GFC, in one chart