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Latest news: Economy

More pain for borrowers as big banks pass on rate hike

More pain for borrowers as big banks pass on rate hike

Three of Australia's biggest banks have hiked interest rates in response to the Reserve Bank's latest cash rate increase.

Photo finish looms for Melbourne Cup interest rate call

Photo finish looms for Melbourne Cup interest rate call

Photo finish looms for Melbourne Cup interest rate call

Photo finish looms for Melbourne Cup interest rate call

Australian borrowers could be hit with another interest rate hike at a closely run Melbourne Cup Day cash rate call.

Strong competition as Vic economy ranked nation's best

Strong competition as Vic economy ranked nation's best

Strong competition as Vic economy ranked nation's best

Strong competition as Vic economy ranked nation's best

Economic activity, retail spending and business investment has catapulted Victoria to best performing economy in the nation but it faces stiff competition.

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Auction jump ahead of expected Cup day rate hike

Auction jump ahead of expected Cup day rate hike

An expected rate hike on Melbourne Cup Day has impacted the number of homes going under the hammer, with clearance rates tipped to jump.

Xi warns against China decoupling, lauds Belt and Road

Xi warns against China decoupling, lauds Belt and Road

Russia's Vladimir Putin was prominent at a Beijing forum where President Xi Jinping criticised Western efforts to reduce dependence on the Chinese economy.

Broadband in the boondocks delivers big jobs boost

Broadband in the boondocks delivers big jobs boost

Households in regional and remote areas are benefiting most from faster broadband, which is also creating more jobs, according to a report.

B-word missing in NT chief's speech on economic future

B-word missing in NT chief's speech on economic future

The NT chief minister has talked up the Top End as a "large part of the answer" to some of Australia's biggest economic issues in a major speech on its future.

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Price-setting 'missing' in the inflation story: Fels

Price-setting 'missing' in the inflation story: Fels

Price-setting 'missing' in the inflation story: Fels

Price-setting 'missing' in the inflation story: Fels

Former competition watchdog chair Allan Fels is scrutinising the connection between corporate price setting and profits and current high inflation.

Public sector reforms may spell budget blues for NSW

Public sector reforms may spell budget blues for NSW

Public sector reforms may spell budget blues for NSW

Public sector reforms may spell budget blues for NSW

NSW Treasurer Daniel Mookhey's budget figures could be in jeopardy, with interest rate rises impacting inflation in the year ahead.

MG3 hatchback takes out 'cheapest car to run' title

MG3 hatchback takes out 'cheapest car to run' title

MG3 hatchback takes out 'cheapest car to run' title

MG3 hatchback takes out 'cheapest car to run' title

A large SUV can cost almost twice as much as a compact car to run, while people movers and all-terrain vehicles are the most expensive, a new study shows.

'Intolerable' housing crisis is costing Sydney billions

'Intolerable' housing crisis is costing Sydney billions

'Intolerable' housing crisis is costing Sydney billions

'Intolerable' housing crisis is costing Sydney billions

Housing unaffordability in Sydney is second only to Hong Kong, says a think tank boss who warns it is costing the city billions of dollars in lost productivity.

Horticulture and sugar hit give crop production a boost

Horticulture and sugar hit give crop production a boost

Horticulture and sugar hit give crop production a boost

Horticulture and sugar hit give crop production a boost

The latest agricultural commodities and crop forecast shows the sector remains strong despite drier times ahead, with exports tipped to fall after record years.

Third executive heads for the door at Fortescue Metals

Third executive heads for the door at Fortescue Metals

Third executive heads for the door at Fortescue Metals

Third executive heads for the door at Fortescue Metals

A former RBA deputy governor has become the third exec to quit mining giant Fortescue in the space of a week but says it's unrelated to the other departures.

Almost half of elite athletes 'earn below poverty line'

Almost half of elite athletes 'earn below poverty line'

Almost half of elite athletes 'earn below poverty line'

Almost half of elite athletes 'earn below poverty line'

Australia risks an exodus of top athletes ahead of the Olympics as many buckle under financial pressures and consider quitting, survey results show.

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No penalties for areas that resist high-density housing

The NSW government is pushing for inner-Sydney areas to take more new homes as a report highlights the cost to taxpayers of building in outer suburbs.

Tax on the frontline as calls grow for bolder reform

Independent MP Allegra Spender has promised to keep tax reform front and centre of the national debate, accusing the major parties of playing politics.

Company profits raise concerns over living costs

Hefty profits reported this week by a trio of major Australian companies, including Qantas, are feeding into public debate about the rising cost of living.

Hundreds of billions of dollars at risk as nation warms

A landmark report exploring Australia's future over the next four decades paints a bleak picture for workers, farmers and rural communities as the nation warms.

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Five areas earmarked to boost living standards, wages

Treasurer Jim Chalmers says Australia is one of the nations best-placed to respond to global economic headwinds, given the strength of its labour market.

Treasurer issues challenge over offshore gas tax change

The treasurer has challenged the opposition and the Greens to pass new laws taxing offshore gas companies and bringing forward revenue to boost the budget.

Hard decisions to be made as Australian population ages

The federal government's upcoming Intergenerational Report will show Australians will live longer, healthier lives even as demand for care services soars.

Major parties to face pressure on tackling tax reform

Australians facing a cost-of-living crisis want to see tax reform but an independent senator says major parties are unwilling to have the conversation.

Report to shine light on future economic shifts

Treasurer Jim Chalmers will soon release the government's response to the latest Intergenerational Report, a guide for Australia's future economic outlook.

Australia's answer to Silicon Valley are tech clusters

Top tech innovators are scattered through 96 "tech clusters", a report reveals, including four major hubs expected to create the jobs of tomorrow.

Bitter news for beer lovers as tax hits pints and kegs

Australia has the third highest beer tax on the world and brewers want the federal government to stop the "out of control" increases.

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