Today
‘It will affect everything’: This was the week the war hit home
The war is no longer distant. From farms to supermarkets, the shock is spreading through the economy, and Australia could be pushed towards recession if it drags on.
Yesterday
Australia’s fuel crisis is just the first domino to fall
Rebuilding our lost sovereignty will require government to rein in profligate spending on industry losers and stop treating the budget as a bottomless well.
Middle East conflict could push inflation to mid-sixes by June
A swift resolution to the war won’t be enough to stop prices marching higher, economists warn.
This Month
Labor’s wage rise plan amid oil spike risks ‘stagflation’
Economists fear a decision to increase minimum pay could aggravate impacts of the energy price shock, push inflation higher and put more people out of work.
Inflation and fertiliser price spike to hit Australia: OECD
The OECD called out Australia for a “resurgence in inflation” that pre-dates the Middle East conflict and warned of further interest rate rises.
NAB to cut 170 jobs in business division, add international roles
The bank’s Australian business division is the latest to be hit by consolidation as it adds hundreds of jobs in India and Vietnam.
Economists found a ‘give up’ cliff. Young Australians are teetering
There is a tipping point where young people, overwhelmed by the widening gap between effort and outcome, begin to disengage from traditional financial goals.
An entire generation is losing faith in Australian democracy
The crippling economic inequality between the young and old, especially for housing, is starting to show in attitudes towards the system of government.
RBA’s narrow pathway on inflation will need to widen
If the central bank is serious about getting core inflation back to its 2.5 per cent target, it will need to abandon a dual goal to keep the unemployment rate low.
Stand up to whinging gas giants
Readers’ letters on a controversial drawing in The Australian Financial Review, gas tax, replacing Jacinta Allan, and self-managed superannuation funds.
War will keep inflation ‘higher for longer’: Chalmers
New data from the period before the Iran conflict broke out shows headline inflation in Australia remained high and outside the Reserve Bank’s target range.
This oil shock is not as bad as the 1970s. Not yet
Fuel prices have not increased as dramatically, 5 per cent inflation is a long way from double-digits, and most home borrowers can cope – for now.
Chalmers warns CEOs against premature optimism on Middle East peace
The treasurer says the degree of damage Australia sustains depends on how long the war lasts and how quickly the global economy rebounds afterwards.
EU deal shows rules-based order isn’t dead yet
The EU deal may not be what every sector wanted, but in a world that is more contested and uncertain, it provides a valuable insurance policy for Australia.
Consumer confidence hits historic low ahead of May budget
The worst confidence result in more than 50 years has economists concerned about Treasurer Jim Chalmers’ ability to sell an ambitious tax plan in the budget.
How big business ‘club’ is causing Australia’s economic problem
Oligopolies and a lack of foreign investment are driving up the cost of living, yet governments on both sides of the aisle are turning a blind eye.
Markets face ‘big 36 hours’ as Iran threats wipe billions from ASX
As the conflict in the Middle East drags on, big investors are growing increasingly uncertain, sending bond and equities markets yo-yoing.
NDIS cuts loom amid Treasury productivity push
Labor is looking to halve growth in spending on Australia’s $52 billion disability insurance scheme as it pushes to improve productivity and save money.
IEA boss warns Australia against ‘abrupt’ changes to oil and gas taxes
International Energy Agency executive director says sudden tax changes on gas exports could damage Australia’s reputation as a reliable trading partner.
Recession risk ignored as traders bet on triple rate rise
Bond markets price in three more hikes by Christmas as global yields hit 15-year highs, but economists warn aggressive tightening risks breaking the economy.
