Economy

What is rent control? Can it help tame Australia's housing crisis?

March 18, 2022 08:55 PM AEDT| By Akanksha Vashisht

Highlights Rent control could offer a solution to longstanding affordability concerns seen across the Australian property sector. Rent control policy has been implemented across multiple countries, including Scotland, South Korea, and Spain. C.....

What to expect from the Australian federal budget 2022?

March 18, 2022 05:00 AM AEDT| By Samta

Highlights Australian federal budget is expected to be announced on 29 March. The FY22 budget will focus on building the economic strength of the country. The federal government focuses on the healthcare sector, supply chain issues.....

Does Good Cartel’s move highlight labor shortage problem in Australia?

March 17, 2022 11:07 PM AEDT| By Sukriti

Highlights Australia’s hospitality sector is going through severe labour shortage. The Good Cartel has announced AU$92k annual pay for barista and AU$112k for kitchen staff. The Federal Government expects that reopening of internat.....

Fed rate hike: What does it mean for Aussie investors and homeowners?

March 17, 2022 08:35 PM AEDT| By Akanksha Vashisht

Aggressive interest rate hikes are likely to be a recurring theme across nations in 2022. With pandemic-induced slowdown receding gradually, it seems to be the right time for central banks to focus on taming inflation. Inflationary pressures have b.....

NZ returns to growth in December quarter, GDP up 3%

March 17, 2022 05:53 PM AEDT| By Manika

Highlights GDP rises 3% in the December quarter The numbers are below economists’ expectations However, they are above RBNZ’s prediction The Gross Domestic Product (GDP) which is a snapshot of the economy, grew by 3% in .....

Australia's unemployment rate data impresses: 3 points to note

March 17, 2022 03:41 PM AEDT| By Akanksha Vashisht

Highlights As per ABS, the unemployment rate plunged to 4% in February 2022. During February, the participation rate rose to 66.4%, with the increase in participation being more pronounced for women. A higher than a usual number of people were.....

Australia’s Dec Qtr property prices data out: Three points to note

March 15, 2022 02:42 PM AEDT| By Akanksha Vashisht

Property prices in Australia have had an interesting journey, with the previous year observing a significant rise in prices. The latest data released by the Australian Bureau of Statistics (ABS) reveals that residential property prices displayed th.....

Australia Pension Centrelink - 5 critical facts to notice now

March 14, 2022 07:59 PM AEDT| By Akanksha Vashisht

With rising inflation becoming a persisting reality, Centrelink payments are expected to rise again for millions of Australians. Australians have been promised a cash boost from March 20 onwards to blow off some pressures created by rising prices. .....

Why Russia-Ukraine war is a threat to global economy?

March 14, 2022 03:47 PM AEDT| By Akanksha Vashisht

Highlights The escalating geopolitical tensions seem to be risking the global economy’s recovery from the pandemic. The war has highlighted the nations’ increased dependence on exports of food items and raw materials. Many car comp.....

Will global supply chain woes end soon?

March 13, 2022 12:49 AM AEDT| By Toshiva Jain

Highlights China is a significant exporter of cotton, and because of its restricted supply from pandemic and labour-oriented reasons, clothing is getting expensive. Due to the Russia and Ukraine crisis, the price level for wheat, corn, and oil .....

Russia-Ukraine conflict: What are economic costs of a war?

March 12, 2022 01:06 AM AEDT| By Akanksha Vashisht

As worrisome events unfurl from the Russia-Ukraine conflict, most individuals are left wondering what the aftermath would bring. The emotional and psychological torment caused by wars is hard to compute and is often neglected by those who are respo.....

Federal Budget 2022-23: Key talking points that should be on agenda

March 12, 2022 12:51 AM AEDT| By Ashish

Highlights The Australian government has announced that this year’s budget will be presented on 29 March. The budget will be tabled earlier than usual on account of upcoming federal elections, which are likely to happen in May. Sev.....

US inflation climbs to 7.9%; food, housing become more expensive

March 11, 2022 08:57 AM AEDT| By Sanjeeb Baruah

Highlights Excluding energy and food costs, consumer prices rose at an annual rate of 6.4% last month. The Russian invasion of Ukraine has turbocharged the prices of oil, wheat, and precious metals. Fed Chair Jerome Powell said last week that .....

Petrol prices set to cross AU$2/litre as crude prices jump amid Russia-Ukraine war

March 09, 2022 04:43 PM AEDT| By Samta

Highlights Petrol prices in Australia are anticipated to exceed AU$2 per litre mark amid conflict between Ukraine and Russia. The US President Joe Biden has announced an immediate ban over Russian crude imports amid the ongoing war between Russ.....

Australia’s consumer sentiment weakens in March, reveals Westpac survey

March 09, 2022 03:09 PM AEDT| By Akanksha Vashisht

Highlights The Westpac-Melbourne Institute Index of Consumer Sentiment dropped below the 100-level mark in March. The decline in consumer confidence was driven by increased inflationary pressures and the Russia-Ukraine conflict. Labour market .....

How Russia-Ukraine conflict could affect Australian consumers

March 08, 2022 07:50 PM AEDT| By Akanksha Vashisht

Just as some level of stability was beginning to seep into global economies after the pandemic, nations are once again facing tougher challenges amidst the Russia-Ukraine war. For an average consumer, the events escalating in Ukraine might have mo.....