Poppy Johnston (AAP)
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Inflation numbers key drawcard in data-packed week
Inflation numbers for the final three months of 2023 will set the scene for this year’s first cash rate call. The December quarter consumer price index is expected to come …
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Savers miss out as banks exploit ‘consumer inertia’
Switching bank accounts and updating payment details is an inconvenience the consumer watchdog wants streamlined to stoke competition in the retail deposit market. The Australian Competition and Consumer Commission says …
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Stubbornly high inflation to eat into real wage gains
Australian households are still on track for an improvement in their real wages in 2024, though less of a near-term gain than first expected. The mid-year budget update released on …
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States and territories dig in on permanent GST deal
State treasurers want a GST deal squared away before considering an expanded role in funding the National Disability Insurance Scheme. State and territory treasurers are angling to lock in their …
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Young people cut back on essentials as pressures mount
Young Australians are reining in their spending more than other age groups and even cutting back on essentials. Spending by people aged 25 to 29 on must-haves, such as groceries …
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Jobless rate ticks higher to 3.7 per cent in October
The official jobless rate lifted 0.2 percentage points to 3.7 per cent last month, as widely anticipated. A larger-than-expected 55,000 jobs were added to the economy, based on the monthly …
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Consumer confidence tumbles after rate hike
The latest rise in interest rates has knocked consumer confidence around again after showing some signs of optimism in recent months. The Westpac and Melbourne Institute monthly consumer sentiment survey …
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Odds shorten on unpopular result in rates decision
The festive season could be soured by another round of interest rate pain if the Reserve Bank board decides more tightening is needed to drive inflation down. A 25 basis …
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Higher prices for petrol, rents, power and new homes
Consumer prices rose 1.2 per cent over the three months to September, making a 5.4 per cent increase over the past 12 months. The latest consumer price index from the …
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Looming job market slowdown to hit young workers hard
Australia’s job market has proved surprisingly resilient to interest rates moving higher, though chinks in the armour are starting to show. A slowing pace of annual growth in payroll jobs, …