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Economy
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.....
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.....
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 .....
RBA stuns Aussies, lifts cash rate by 50bps
June 07, 2022 04:55 PM AEST| By Akanksha VashishtHighlights The RBA has increased the cash rate target and interest rate on Exchange Settlement balances by 50 basis points each. The central bank has cited growing inflation as the primary reason behind the larger-than-expected rate hike. The .....
Half a million Aussie motorists to get AU$750 cash rebate amid rising tolls
June 07, 2022 02:13 PM AEST| By Akanksha VashishtHighlights NSW government intends to lessen the burden of Sydney’s tolls by offering cash rebates of AU$750 each year to drivers. The existing model has been deemed to be less fair. A distance-based approach was proposed by Premier Perro.....
What does the latest NSW voluntary assisted dying legislation mean?
June 06, 2022 06:32 PM AEST| By Aditi SarkarHighlights Assisted dying service involves giving medication to end the life of a person who is suffering from an unbearable terminal illness and upon the person’s own will Recently, the Parliament of New South Wales (NSW) passed a bill o.....
Australia's new cabinet has record number of women!
June 06, 2022 03:47 PM AEST| By Toshiva JainHighlights Among 23 members of the newly formed Australian cabinet, 10 are women. Eminent appointments include Penny Wong as Foreign Minister, Claire O'Neil for the post of Home Affairs and Cyber Security Minister, Katy Gallagher being Finance .....
RBA to lift cash rate on Tuesday: What to expect?
June 06, 2022 02:19 PM AEST| By Akanksha VashishtHighlights The Reserve Bank is expected to conduct its second interest rate hike in the June monetary policy meeting. Inflationary pressures have taken a toll on households, with little relief offered through wages growth. Market expectations .....
How does Labor plan to help first home buyers?
June 05, 2022 12:10 AM AEST| By Toshiva JainThe Labor party has taken over as the new federal government of Australia and people now wonder how the financial and social strategies are going to be. With the election fever finally over, Australians wait to see whether the government will.....
How Albanese govt plans to breathe new life into Australian economy
June 05, 2022 12:05 AM AEST| By ManishaHighlights Emerging as the winner in the 2022 Australian federal election, the Labor Party has come to power under the leadership of Anthony Albanese. PM Albanese is focused on strengthening Australia’s economy and make the country strong.....
Why is it hard to escape the unemployment trap?
June 04, 2022 12:05 AM AEST| By Akanksha VashishtHighlights The unemployment rate in Australia is at an all-time low, even as Aussies struggle to manage a living. The unemployment trap refers to the situation wherein unemployment benefits appear more economical than working. Unemployed indiv...
How COVID-19 triggered a spike in cybercrimes in Australia
June 03, 2022 06:44 PM AEST| By Aditi SarkarHighlights Any attempt to gain unauthorised access to a computer, computing system or network to harm or cause damage is known as cyberattack During 2020-21, the ACSC received more than 67,500 cybercrime reports Cybercrimes mostly attacked the.....
Will Aussies see higher minimum wages as new government takes charge?
June 02, 2022 02:55 PM AEST| By Akanksha VashishtIt seems the new government has a lot more on its to-do list than the Scott Morrison-led government. One of the most crucial areas of reform for the new government is the labour market. The newly elected Labor government has promised a bump to wage.....
Will the RBA go for aggressive rate hikes as Q1 GDP exceeds estimates?
June 02, 2022 12:46 PM AEST| By Akanksha VashishtHighlights The Australian Bureau of Statistics (ABS) has released the economic growth data for the March 2022 quarter. A higher-than-expected GDP rate signifies that the economic activity has remained buoyant even in times of distress. With th.....
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Here’s why Australian property prices fell for the first time in two years
June 02, 2022 10:55 AM AEST| By Toshiva JainAustralian property prices have fallen for the first time in nearly two years. Wealthy cities like Sydney and Melbourne are facing the strongest decline. Indices show fall in property prices As per two of the nation’s major indices from Cor.....
How is Ukraine crisis impacting Australia's LNG plans?
June 01, 2022 05:22 PM AEST| By Toshiva JainHighlights Post Russian invasion and international sanctions on Russian supply, demand for Australian LNG raised immediately. The country’s main gas fields are far from Sydney and Melbourne, and other big cities in the southeast. Addition.....
Australia's Q1 GDP data out: How is the economy faring?
June 01, 2022 02:55 PM AEST| By Akanksha VashishtThe Australian GDP data for the March 2022 quarter exceeded all expectations, with the latest report from the Australian Bureau of Statistics (ABS) showing that the economy expanded 0.8% during the quarter. In a highly unanticipated turn of events,.....
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