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The Latest Breaking News from Inflation

Treasurer pleads caution on tax cuts as calls to ditch them grow louder

With deteriorating global economic conditions and no prospect of remission inflation, the Treasurer promised a “sustainable” budget.

The New Daily · Oct 4, 2022

RBA ‘near the summit’ in quest to curb inflation, as Governor Lowe warns of further rate rises

The Reserve Bank is "near the summit" in its uphill battle to curb the fastest rate of inflation in a generation, economists say.

The New Daily · Oct 4, 2022

Liz Truss under pressure over benefits as she refuses to rule out real terms cut

Senior former Welsh Tory minister Stephen Crabb says the U-turns so far have not been enough to pacify anger on Conservative benches

Wales Online · Oct 4, 2022

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Liz Truss refuses to rule out real terms cuts to Universal Credit as pressure mounts on PM

The Prime Minister is reportedly considering raising benefits in line with earnings rather than inflation - and telling claimants it is unfair to receive a higher raise than workers.

Daily Record · Oct 4, 2022

Commentary: Why it matters that Gen Z voters are not a monolith

Some editorial writers are keen to describe the looming midterms as "the inflation election." Then again, their average readers are millionaires by household net worth. They skew 62 percent male and in their 40s. The last time I checked, the great thing about America is that it's a democracy. It…

Tribune News Service · Oct 4, 2022

Liz Truss refuses to rule out real-terms benefits cuts

PM facing fresh battle with MPs as she declines to commit to raising benefits in line with inflation

The Guardian - UK · Oct 4, 2022

Truss faces new challenge over UK welfare payments

British Prime Minister Liz Truss triggered a new row in her party on Tuesday by suggesting she could limit increases in benefit payments to less than soaring inflation as she seeks ways to fund her tax-cutting growth plan.

Reuters · Oct 4, 2022

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Liz Truss refuses to rule out real-terms cuts to benefits

PRIME Minister Liz Truss has refused to rule out real-terms benefit cuts in order to help pay for her government’s tax-cutting growth plan.

The National (Scotland) · Oct 4, 2022

Australia breaks with global trend, slows interest rate hikes

Reserve Bank of Australia lifts key rate by 0.25 percentage point in nod to uncertain global economic outlook.

Al Jazeera · Oct 4, 2022

Defiant Liz Truss faces full-scale Tory revolt as she plots to cut benefits for poor

One Nation Tory Damian Green said Liz Truss would 'probably not' get benefit cuts through Parliament - as even serving minister Penny Mordaunt warned she must not 'help people with one hand and take away with another'

Daily Mirror · Oct 4, 2022

Liz Truss says she wants to cut top rate of tax eventually and says she does trust Kwasi Kwarteng as chancellor – as it happened

PM says says she backs idea to abolish tax cut for high earners in principle despite shelving it for now

The Guardian - UK · Oct 4, 2022

Greggs rolls into Canary Wharf as sales surge

‘Pastry powerhouse’ is due to complete 150 new store openings by year end

Evening Standard · Oct 4, 2022

Row over Universal Credit and other DWP benefits amid fears of Liz Truss cut

Ms Truss and Kwasi Kwarteng may announce a real-terms cut in benefits

Wales Online · Oct 4, 2022

Pound at two-week high as FTSE 100 posts best day since June – as it happened

Chancellor denies reports that he will bring his medium-term fiscal plans forward to this month, despite pressure from markets and MPs

The Guardian - UK · Oct 4, 2022

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The Independent UK · Oct 4, 2022

Australian central bank lifts cash rate to 9-year high 2.6%

Australia’s central bank has boosted its benchmark interest rate for a sixth consecutive month to a nine-year high of 2.6%

The New Daily · Oct 4, 2022

Interest rates rise slower as RBA inflation battle enters new phase

The RBA took its foot off the accelerator approving a smaller interest rates rise as the battle to curb inflation enters a new phase.

The Guardian - AU · Oct 4, 2022

Interest rates rise again as Reserve Bank lifts cash rate to 2.6%

RBA on Tuesday raised its cash rate 25 basis points as it seeks to stifle inflation

The New Daily · Oct 4, 2022

Mortgage bills to soar again as RBA unveils record-breaking sixth interest rate hike in a row

The RBA approved a record breaking sixth interest rate rise in a row on Tuesday, lifting its target cash rate 0.25 percentage points.

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Bangkok Post · Oct 4, 2022

Economic recovery likely intact: Bank of Thailand

Thailand's economic recovery is likely intact and inflation should ease next year, the central bank chief said on Tuesday. Bank of Thailand (BoT) Governor Sethaput Suthiwartnarueput was speaking to a business seminar. The BoT has forecast economic growth of 3.3% for this year and 3.8% next year.

Bristol Post · Oct 3, 2022

Bristol City Council could face £88m shortfall by 2027, report reveals

Late papers to cabinet reveals "worst-case scenario"

Daily Mirror · Oct 3, 2022

'Shameless PM and Chancellor forced into 45p U-turn by public backlash'

Savage cuts to key public services, benefits losing value by rising below inflation and expensive extra borrowing are also on the way

ABC News · Oct 3, 2022

Murray Watt says the government is providing the largest cost-of-living increase to welfare recipients in 30 years. Is that correct?

Cabinet minister Murray Watt says the government is providing the largest cost-of-living increase to welfare recipients in 30 years. RMIT ABC Fact Check investigates.

Bangkok Post · Oct 3, 2022

Inflation Keeps U.S. From Stepping In to Slow Dollar's Rapid Rise

U.S. policy makers aren't likely to take action to slow the dollar's rapid rise despite rising risks of global financial turmoil, analysts say, largely because a strong greenback helps fight domestic inflation.

ABC News · Oct 3, 2022

Here's what was happening in Australia the last time the cash rate rose this quickly

The rapid increase in interest rates feels all too sudden for borrowers, but it's not the first time this has happened. Here's how events played out almost 30 years ago.

The Independent UK · Oct 3, 2022

Chancellor under pressure to back benefits increase

Kwasi Kwarteng has refused to confirm whether benefits will be uprated in line with inflation.

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