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Economy
Why is Australia's jobless rate running at 50-year low?
June 22, 2022 01:52 PM AEST| By Toshiva JainAustralia is under immense pressure from rising inflation, followed by an increase in the cash rate. However, amidst the pyramid of the many heart wrenching news recently, there’s one intriguing factor capturing headlines- Australia’s unemployment ra...
How can house price fall impact new property investors?
June 19, 2022 12:10 AM AEST| By Akanksha VashishtVolatility has returned in the Australian property market as rising interest rates take a toll on mortgage holders. The Reserve Bank of Australia (RBA) has raised the interest rates for the second consecutive month, taking the official cash rate to.....
How Fed interest rate hikes impact Australia?
June 18, 2022 12:25 AM AEST| By Akanksha VashishtIt is a known fact that developments in the United States (US) quickly travel across the globe and show an impact. The interest rate hikes by the US Federal Reserve (Fed) are no different as they have shown a significant impact on economies worldwi.....
Preschool fees to be slashed by NSW government
June 18, 2022 12:10 AM AEST| By Toshiva JainHighlights The NSW government will spend AU$1.4 billion over four years to help parents slash preschool fees up to AU$4,000 per year for each child. Funds will be provided for children in the age group 3-5-year-olds attending community or mobil.....
Recession fears stalk US markets: How worried should Australia be?
June 17, 2022 06:26 PM AEST| By Akanksha VashishtHighlights The possibility of the US economy going into recession has hit international markets, including Australia. Inflationary pressures and rapid interest rate hikes can potentially cause a drop in consumer and investor sentiment. Austral.....
BoE raises interest rates to 1.25%: How will it affect UK inflation?
June 16, 2022 11:02 PM AEST| By Abhishek SharmaHighlights The Bank of England on Thursday announced the fifth consecutive hike in interest rates. The central bank was under pressure to take aggressive steps after the US Federal Reserve announced a 0.75 percentage point hike in the benchmark.....
GDP fall to impact RBNZ’s monetary stance in next MPC?
June 16, 2022 02:24 PM AEST| By ManikaHighlights NZ’s GDP fell 0.2% in the March 2022 quarter This is mainly due to the Omicron spread during that time Despite a contraction in the economy, the RBNZ unlikely to change its monetary policy stance New Zealand's GDP fell 0......
Minimum wage hike: How will it impact inflation and RBA interest rate decision?
June 16, 2022 12:47 PM AEST| By Akanksha VashishtHighlights The Fair Work Commission (FWC) has increased the minimum wages by 5.2% as cost-of-living pressures increase. Higher wages are often associated with job losses and can contribute to ongoing inflation. An increase in wages could force.....
Why sending parcels may cost Aussies more?
June 15, 2022 06:31 PM AEST| By Akanksha VashishtHighlights Postal service providers, including Australia Post, have announced massive bumps to their surcharge fees. High fuel and transportation costs emanating from Russia-Ukraine war have made things tougher for postal service providers. Th.....
Fair Work Commission’s minimum wages decision: Key takeaways
June 15, 2022 05:15 PM AEST| By Akanksha VashishtAustralia’s Fair Work Commission (FWC) has announced a higher-than-expected hike in minimum wages on June 15. An annual wage hike of 5.2% has been declared, which is at par with the annual inflation rate of 5.1%. The move is expected to offer.....
Why are job seekers worried about new point-based system to receive JobSeeker payment?
June 15, 2022 11:05 AM AEST| By Akanksha VashishtMajor changes have been recently announced to Centrelink’s Jobseeker program, bringing a new wave of concern for Aussies. The new Points Based Activation System (PBAS) will soon be introduced for the workforce, which will replace the existing.....
UK economy contracts by 0.3% in April: What lies ahead?
June 14, 2022 03:50 PM AEST| By Abhishek SharmaHighlights The UK economy shrank by 0.3% in April, the latest data from the ONS revealed on Monday. This is the first time that all main sectors - services, production, and construction – have seen negative growth since January 2021. .....
How come Canberrans' electricity bills fall while most Aussies' see power bills soaring
June 13, 2022 12:56 AM AEST| By Toshiva JainElectricity prices are skyrocketing in Australia. There are a couple of reasons behind the massive increase in power bills, such as the Russian invasion, lasting effects of La Nina, crunch in domestic gas supply, and most importantly, years of negl.....
Inflation worries: OECD asks NZ government to take targeted action
June 12, 2022 06:00 AM AEST| By ManikaHighlights The OECD released its report on Thursday Says the New Zealand government needs to do more to curb inflation The OECD paints a gloomy picture of inflation globally An Organisation for Economic Cooperation and Development (OECD) .....
Is Australian economy facing a wage-price spiral?
June 12, 2022 12:00 AM AEST| By Akanksha VashishtThe Australian economy is facing challenges from multiple directions. High inflation, rising interest rates and a decline in real wages have clouded the country’s economic outlook. These factors together have created a highly volatile environ.....
How much Australian property prices can fall if rates keep rising?
June 11, 2022 12:05 AM AEST| By Akanksha VashishtHighlights The Australian property prices have been declining amidst a fall in housing demand. The RBA’s larger-than-expected June rate hike has caused a massive stir in the economy, including a shock to the housing sector. The RBA recen.....
Should Australia be worried over World Bank's latest stagflation warning?
June 09, 2022 02:33 PM AEST| By Akanksha VashishtHighlights The World Bank has recently downgraded the global economic outlook and warned of a potential return of "stagflation". The OECD believes that the present economy is better equipped to handle pressures. Australia’s economic grow.....
What another 50bps hike in interest rate means for mortgage holders?
June 08, 2022 02:55 PM AEST| By Akanksha VashishtHighlights The RBA raised interest rates to 0.85% in June after its first hike in May. The latest interest rate hike is expected to hurt mortgage owners, with people from Western Australia facing the toughest conditions of all. Big four banks .....
Inflation higher in NZ than Australia: Check out responses of central banks
June 08, 2022 10:51 AM AEST| By ManikaHighlights Annual inflation is higher in New Zealand as compared to Australia Prices are rising in Australia significantly of late A wide gap between central banks’ monetary policy responses Annual inflation in the year to the March.....
After no-confidence vote, Boris Johnson pledges to focus on UK's economy
June 07, 2022 07:44 PM AEST| By Abhishek SharmaHighlights Prime Minister Boris Johnson on Monday won a no-confidence vote by a narrow margin. He now faces political uncertainty as 41% of his own colleagues voted to oust him. British Prime Minister Boris Johnson on Monday survived a no.....
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