Relief could soon be on the way for Aussies struggling with rising interest rates, according to a leading economist. There is a glimmer of hope for Australians fearing more interest rate pain, with a leading economist predicting the massive hikes could soon start to ease. On August 2, the Reserve Bank of Australia raised interest rates for a fourth consecutive ...

There is finally some good news for your grocery bill, with the price of many vegetables expected to drop back to regular prices. The change comes as growers begin to report that they are back on track with their crops after flooding earlier in the year devastated crops in NSW and Queensland, leaving empty shelves in supermarkets as well as ...

The cause of Australia’s worsening rental crisis runs far deeper than the economic pressures behind rising interest rates and soaring inflation, a prominent real estate expert has revealed. Ray Ellis says the crisis will deepen without swift action from state governments on social housing and new build “red tape”. Mr Ellis, former director of the Real Estate Institute of Australia ...

Australia’s top economic goal should be that everyone has the chance to find a secure and fairly paid job, the nation’s peak union body says. The Australian Council of Trade Unions will push the federal government to make achieving “full and secure employment” its number one priority at the upcoming jobs summit on September 1. The event will aim to ...

Difficulty finding and keeping talented workers remains one of the top risks on the minds of the nation’s finance managers, a study has found. Three quarters of Australia’s chief financial officers felt optimistic about the financial prospects of their companies, down from 83 per cent at the end of 2021, according to global firm Deloitte. In a climate of rising ...

The US Federal Reserve on Wednesday again raised the benchmark interest rate by three-quarters of a percentage point in its ongoing battle to tamp down raging price pressures that are squeezing American families. It was the second straight 0.75 per cent, or 75 basis point increase, and the fourth rate hike this year, as US central bankers move aggressively to ...

The Treasurer said “forecasts are never perfect, but these better reflect the economic circumstances our new government is now dealing with – compared with what was set out before the election”. “Inflation will unwind again, but not in an instant,’’ he said. “Just as the domestic forces contributing to some of the supply side pressures have been building for the ...

China is contemplating an end to its unofficial ban on Australia’s coal as it reportedly seeks to avoid the power shortages that saw factories shut down and caused sudden blackouts last year. News that officials were considering an end to the ban has excited investors with share prices for coal mining companies jumping amid the rumours. There had been hopes ...

Treasurer Jim Chalmers has warned Australians to prepare for “confronting” news when he unveils the state of the nation’s finances next week. Soaring interest rates on record levels of government debt are expected to burn a $13bn hole in the budget. Speaking to reporters in Canberra, Mr Chalmers said the government had inherited the “trickiest set of economic circumstance” in ...

A new report has revealed Melbourne tradies are pocketing a whopping average hourly wage of $124, making them the seventh highest paid construction workers in the entire world. The International Construction Market Survey from British construction company Turner & Townsend found the average Melbourne tradies’ salary was more than four other Australian capitals and only behind four US and two ...