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Economy
Unemployment rate shows no change in January 2022
February 16, 2022 07:34 PM PST| By Akanksha VashishtHighlights As per ABS, the unemployment rate stood at 4.2% in January 2022. The data further reveals that hours worked showed a larger than usual decline in January 2022. In January, employment increased by 13,000 people as more people were pu.....
How well does the Keynesian framework sit in the Australian economy?
February 16, 2022 07:13 PM PST| By Akanksha VashishtHighlights A mix of economic frameworks is being followed across nations to tackle crisis-like scenarios. Keynesian economics advocated for greater dependence on fiscal stimulus to regulate the economy. Keynesian economics has evolved with tim.....
Which global events can influence the Australian economy?
February 15, 2022 08:58 PM PST| By Akanksha VashishtInternational developments have always played a crucial role in determining the strength of the Australian economy. The COVID-19 pandemic created a shock-like scenario in Australia, first by shutting down the entire economy and then by leading to a.....
RBA may hike cash rate in June 2022, says CBA economist
February 15, 2022 07:35 PM PST| By Bhawna GuptaA senior economist at Commonwealth Bank of Australia (ASX:CBA), Gareth Arid has said that the Reserve Bank of Australia (RBA) would begin raising the cash rate in June. In the CBA report, Aird has said that inflation will be far higher than the RB.....
Economies with record-breaking inflation
February 15, 2022 12:54 AM PST| By Toshiva JainHighlights The Consumer Price Index (CPI) for a large variety of goods and services across most countries is climbing faster than expected. The primary causes for such a high price level are the skyrocketing prices of oil and gas and supply-cha.....
Crude oil hits fresh seven-year high amid Russia-Ukraine tension
February 13, 2022 07:00 PM PST| By Arpit VermaHighlights Crude oil prices rose on Monday. The comments from the US about a forthcoming attack by Russia on Ukraine have shocked the worldwide financial market. A significant drop in the US crude inventories has also added pressure on the sup.....
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UK economy recovers from pandemic blues, Omicron impacts December growth
February 11, 2022 06:57 AM PST| By Rishika RainaHighlights The UK economy recorded a GDP growth of 7.5% in 2021 after a drastic fall of 9.4% in 2020. The UK’s GDP has gone up by 1% in Q4 2021, same as the downwardly revised 1.0% increase in Q3. The UK economy is on its way b.....
How Labor pip Liberals to pass religious discrimination bill
February 11, 2022 06:19 AM PST| By Bhawna GuptaHighlights The contentious religious discrimination bill was passed by the lower house on Several Liberal MPs crossed the floor against the government to pass the bill. The new version of the bill is moved to the Senate now. After m.....
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Rising shipping costs affecting UK businesses
February 11, 2022 05:15 AM PST| By Priya BhandariHighlights Labour shortages, Covid restrictions, and strain on logistics networks led to a rise in shipping costs and significantly lengthened delivery times. The widespread disruption in the supply chain has affected the UK and other eco.....
Can China’s zero-Covid curbs hurt global growth?
February 11, 2022 12:06 AM PST| By Toshiva JainLike many other nations like Australia and New Zealand, China adapted the “zero-Covid” policy as the deadly COVID-19 pandemic entered our lives. However, most countries suspended the policy and moved ahead with the upliftment of restric.....
How can housing become more affordable in Australia?
February 10, 2022 11:35 PM PST| By Akanksha VashishtHighlights Over the past few decades, the number of Australians owning a home has declined swiftly. While increasing the supply of housing is a long-term task, it is the need of the hour for the property market. A combination of measures is re.....
RBA Governor: Outlook for inflation and wages remains uncertain
February 10, 2022 07:40 PM PST| By Akanksha VashishtHighlights As per RBA Governor Philip Lowe, Australia’s GDP growth surged to about 5% over 2021. Job vacancies have been going strong in Australia since the end of 2021. A high inflation rate could prompt a sooner interest rate hike by t.....
Australia to reopen borders - things to look out for!
February 10, 2022 12:29 AM PST| By Toshiva JainHighlights From February 21, fully vaccinated international tourists will be welcomed in Australia as borders reopen. According to the government body of Tourism Research Australia, the total loss that tourism incurred in the country since the .....
Is an interest rate hike necessary to control Australia’s property boom?
February 09, 2022 11:37 PM PST| By DaminiThe Australian property prices have been going haywire for about one and a half years now, with policymakers embracing different measures to control house price inflation. The methods adopted to prevent the house price boom have not been able to yi.....
ABS: Payroll jobs pick up in January, but at a slower pace
February 09, 2022 07:17 PM PST| By Akanksha VashishtHighlights As per the Australian Bureau of Statistics, payroll jobs rose in the fortnight leading up to 15 January 2022. The rise in the first two weeks of January came after a steep drop in payroll jobs seen during December 2021 end. Payroll .....
US investors switch to dividend funds, dump bonds
February 09, 2022 11:18 AM PST| By Sanjeeb BaruahUS investors are picking up dividend funds as they seek an alternative to the bond market amid rate fears, Reuters reported. The market worries have deepened, fuelled by record-high inflation. Economists expect the latest CPI data due later this w.....
What’s causing inflation globally?
February 08, 2022 11:54 PM PST| By Toshiva JainHighlights According to the International Monetary Fund (IMF), global growth might moderate from 5.9% in 2021 to 4.4% in 2022. Elevated inflation is likely to persist, with ongoing supply chain disruptions and high energy prices continuing in 2.....
Three ways border reopening can lift Australian economy
February 08, 2022 11:50 PM PST| By Akanksha VashishtHighlights Australia will allow foreign visitors to travel to the country from 21 February onwards. The reopening of international borders is set to open fresh set of opportunities for the battered aviation and hospitality industries. A cappin.....
Inflation on the rise, five sectors to watch out for
February 08, 2022 08:37 PM PST| By Akanksha VashishtHighlights Annual consumer prices surged by 3.5% in December 2021 in Australia. Rising inflation impacts several sectors differently, with some actually benefitting from a price hike. The real estate market is not impacted immediately by chang.....
Australia sees deterioration in consumer sentiment amid high inflation
February 08, 2022 07:24 PM PST| By Akanksha VashishtHighlights The Westpac-Melbourne Institute consumer sentiment index stood at 100.8 points in February. The rise in supply-chain disruptions had a negative impact on the overall outlook for consumers and businesses. The report suggests that one.....
