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The Latest Breaking News from Sean Langcake

Economists less confident of RBA rate cut than market

An AAP survey of 32 leading Australian economists has tipped the Reserve Bank to cut interest rates this week, but more than one in five remain unconvinced.

AAP

Public sector wages increase at second fastest pace in 14 years, ABS data shows

Private sector wages growth was up just 0.7% for the June quarter, the equal lowest since the end of 2021

The Guardian - AU

Australian shares dip amid tech sector sell-off

The ASX200 has fallen 0.3 per cent with the small tech sector suffering its worst loss since April after a similar sell-off in the US.

AAP

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Rates probably on hold but all eyes on RBA governor

More interest rate hikes are broadly off the table but the Reserve Bank governor is likely to keep her options open in a big week of public appearances.

AAP

ASX skyrockets as economy shows sign of weakness

The ASX200 made its biggest daily gain in more than a year as lower-than-expected GDP growth signals the RBA's rate rises are having their intended effect.

AAP

Australians pull back on retail spending as case for holding interest rate grows

Sales turnover across most categories dips amid cost-of-living pressures ahead of RBA decision on cash rate next week

The Guardian - AU

Immigration key to Australia avoiding a recession, unlike NZ

If Australia is lurching towards a recession like the one neighbouring New Zealand is now suffering, there were few signs of it on Thursday.

The New Daily

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Australia’s unemployment falls to 3.6% as the economy adds 76,000 jobs in May

Employers expand workforces even as growth slows, surprising economists

The Guardian - AU

Economy slows to a crawl as consumers cut spending

Australia’s economy is slowing rapidly as families slash spending and raid their savings to deal with the cost of living crisis.

The New Daily

Economists warn worst is yet to come after June interest rates rise

The June interest rates hike might not be the last, either, with RBA boss Philip Lowe saying more may still be needed.

The New Daily

‘Razor’s edge’: Duelling futures for mortgage bills as RBA mulls June interest rates hike

The RBA will decide this week whether to raise mortgage bills for millions of Australian families again, or deliver a June reprieve and pause interest

The New Daily

‘Highly probable’: RBA tipped to hike interest rates in June after wage data

Economists are predicting another interest rates hike after wage growth rose in the March quarter, with risks around low productivity growth.

The New Daily

Wage data looms as key to another potential interest rates hike

The potential for another painful hike in interest rates is balanced on a knife’s edge ahead of crucial new wages growth data.

The New Daily

‘Slightly less terrible’: Why the budget won’t worsen inflation

Opposition Leader Peter Dutton has accused the Albanese government of delivering an inflationary budget, but not all experts think so.

The New Daily

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The New Daily

‘Deadly serious’: Why Philip Lowe thinks interest rates could rise again amid inflation fears

Interest rates will force another round of painful mortgage bill hikes to ensure inflation keeps falling from 30-year highs, Philip Lowe says.

The New Daily

‘Peaked’: Small relief from slowing inflation as rents and utility bills soar

Inflation has begun easing as goods prices fall, but the cost of living crisis isn’t over yet as rising rents and utility bills hit families.

The New Daily

‘Resilient’ jobs market foreshadows more interest rate hikes, economists say

Australia’s jobs market showed little signs of slowing in March despite almost a year of interest rate hikes, economists said.

The New Daily

50-50: RBA mulls rate hike as retail sales slow

Australians are spending less time at the shops as sky high inflation and rapidly rising interest rates eat into retail sales.

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The New Daily

How many more interest rate hikes? RBA boss Philip Lowe gives clues

Home owners will be slugged with another mortgage bill squeeze after the Reserve Bank raised its interest rates for the 10th time in a row.

The New Daily

Economists back tourists and international students to keep Australia out of recession

Sharp interest rate hikes are putting families under pressure, slowing economic growth, but a tourism rebound is providing recession optimism.

The New Daily

‘Million-dollar question’: All eyes on consumer wallets as experts predict robust growth figures

Fears of a recession in early-2023 are set to be eased on Wednesday as experts prepare for robust economic growth.

AAP

Business investment picks up in December quarter

Easing supply bottlenecks and a robust pipeline of work fed into a strong final quarter for investment activity in 2022, the Bureau of Statistics says.

The New Daily

Employment rates are ‘tracking sideways’, experts say, on January data

A New Year's rise in unemployment has sparked debate about whether cracks are appearing in the labour market.

The New Daily

How high will interest rates go? RBA flags more mortgage pain in 2023

Australians are being warned to brace for even more interest rate hikes after the Reserve Bank began 2023 with a fresh mortgage squeeze.

The New Daily

Mortgage squeeze to worsen as RBA prepares rate hike amid refinancing binge

Millions of Australian homeowners are facing yet another jump in their mortgage bills this week, with a fresh rate hike incoming.

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