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Economy
Business confidence slumps on Omicron worries: ANZ Survey
February 28, 2022 02:54 PM AEDT| By ManikaHighlights Business confidence dips to 28 points Reflection of worries related to Omicron impact February is ninth straight month when business confidence was in negative Business confidence slumped in the month of February as Omicron imp.....
Retail spending soars in January 2022 following a December fall
February 28, 2022 02:50 PM AEDT| By Akanksha VashishtAustralians have continued retail spending this year after exhibiting a slight lull towards the end of 2021. The latest data from the Australian Bureau of Statistics (ABS) reveals that retail sales rebounded to rise 1.8% in January 2022, after a sl.....
Are open borders a fast fix for Australian tourism?
February 28, 2022 01:59 PM AEDT| By Toshiva JainHighlights Despite Australian borders reopening, few travel industry runners are not very hopeful of recovery just yet. The travellers now feel repellent to travel in and across Australia because COVID cases rise suddenly, and the governments c.....
Federal election 2022: Can Albanese run a better govt than Morrison?
February 26, 2022 01:37 AM AEDT| By ManishaHighlights Anthony Albanese, the Federal Opposition Leader, hopes to turf out Australian PM Scott Morrison at the election due in May. Albanese believes that Australia can come back stronger, more resilient, and more self-reliant followin.....
NZ to have quick rate hikes, signals RBNZ Governor
February 25, 2022 02:03 PM AEDT| By Team Kalkine MediaHighlights The Central Bank faces a tough choice of tackling inflation amid the pandemic. Some critics say that the Reserve Bank is moving too slow. An ANZ economist says it is a difficult balancing act. New Zealand central bank Governor .....
When did Australia last increase its interest rates?
February 25, 2022 01:37 PM AEDT| By Akanksha VashishtHighlights Australia is experiencing one of the longest periods of low cash rate maintained at 10 basis points. The rate hike expected this year would be the first in around 12 years of Australian history. The real effects of the government&rs.....
Average full-time earnings soared in 2021. Are good days back for Aussie job seekers?
February 24, 2022 07:25 PM AEDT| By Akanksha VashishtAustralia seems to be in the middle of a widespread economic resurgence as major economic indicators have been showing considerable improvement in recent months. The economic revival is also evident in the labour market, which is slowly recouping t.....
How can Australia’s international border reopening revamp the job market?
February 24, 2022 04:22 PM AEDT| By DaminiHighlights Australia sees a strong rebound in employment and the beginning of long-awaited wages growth as soon as restrictions got eased. The country’s wage price index rose 0.7% in the December 2021 quarter. The labour market has been .....
Australia records a modest rise in business investment in Dec 2021 Qtr
February 24, 2022 04:10 PM AEDT| By Akanksha VashishtHighlights Business investment inched higher during the December 2021 quarter, with buildings and structures taking the lead. The private new capital expenditure rose 1.1% during the December quarter. The lower-than-expected rise in capital ex.....
Can Russia’s attack on Ukraine impact Canada's economy & trade?
February 24, 2022 04:01 AM AEDT| By Kajal JainPeople around the world have woken up to the news of Russian President Vladimir Putin ordering a “full-scale invasion” of Ukraine — a move that could mark the inception of a war in Europe. The so-called "special military op.....
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New Zealand central bank raises OCR by 25 bps, says more tightening ahead
February 23, 2022 05:00 PM AEDT| By ManikaHighlights The Central Bank lifts the OCR by 25 bps. Forecasts OCR to reach above 3.25% by 2024. Agrees to reduce the stimulus to maintain prices and provide employment. The Central Bank finally delivered an expected outcome by raising...
Australian Election 2022: AHHA calls for value-based approach to healthcare system
February 23, 2022 03:44 PM AEDT| By Team Kalkine MediaHighlights AHHA has urged the federal government to consider reforms in the healthcare system. Health policies of Australia have failed to maintain pace with the change. The organisation has called on parties to measure and report what matters.....
Australia sees strong wage growth in December 2021 quarter
February 23, 2022 02:38 PM AEDT| By Akanksha VashishtHighlights Wages rose 2.3% annually during the December 2021 quarter. The significant growth in wages can be attributed to the shift in the bargaining power of the employees. There has been an acute shortage of skilled workforce in the Austral.....
Monetary Policy Review: Will RBNZ hike OCR by only 25 bps today?
February 23, 2022 12:03 PM AEDT| By ManikaNew Zealand’s central bank is all set to announce its monetary policy review in which it is expected to increase OCR for the third time in a row. According to most economists, the Reserve Bank (RBNZ) is likely to hike OCR by 25 bps but .....
Decoding the World Development Report 2022
February 23, 2022 05:02 AM AEDT| By Toshiva JainHighlights The World Bank affirmed the significance of corrected financial measures for an equitable recovery. In the pandemic, economic activities of over 90% of the countries have contracted. Significant consequences are borne by the emergin.....
What does Russia-Ukraine conflict mean for world economy?
February 19, 2022 02:00 AM AEDT| By Toshiva JainIn late January 2022, Russian forces were deployed along the Ukrainian border. Till now, the conflict hasn’t been resolved. While the world economy trembles under the effects of the Covid-19 pandemic, Russia’s evasion is just another na.....
Deciphering the impact of Russia-Ukraine crisis on Australian economy
February 18, 2022 06:00 PM AEDT| By Akanksha VashishtGeopolitical tensions are increasing worldwide, with fears of Russia invading Ukraine looming in the backdrop. Realising that more than two nations might get involved in this battle, world leaders stand at the centre of one of the worst modern-day .....
Is Australia facing ‘Great Resignation’ in workforce like the US?
February 18, 2022 01:13 PM AEDT| By Akanksha VashishtAs news broke out about the US facing the ‘Great Resignation’, businesses across the globe became distressed amidst growing fears of an economic slowdown. A record number of Americans have quit their jobs since April 2021, even as the U.....
US weekly jobless benefit claims surge, housing starts decline
February 18, 2022 06:16 AM AEDT| By Rupam RoyHighlights US unemployment benefits claims increased by 23,000 in the previous week. In January, homebuilding permits increased by 0.7%, the highest level since May 2006. Home-building permits increased by 0.7% in January, the highest .....
International travel data out ahead of border reopening
February 17, 2022 04:53 PM AEDT| By Akanksha VashishtHighlights The Australian government has announced the reopening of international borders from 21 February. Visitors from New Zealand formed 40% of total travellers into Australia in 2021. The focus is now on bringing pre-pandemic conditions b.....
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