Wednesday was a momentous day for stats nerds. The Australian Bureau of Statistics released the nation’s first complete monthly consumer price index publication, bringing the nation in line with peer economies and giving the Reserve Bank a more timely and accurate read of inflation pressures. WHAT...
Artificial intelligence could push up Australia’s neutral interest rate level, making it harder for the Reserve Bank the lower rates further. The whereabouts of the neutral rate – the interest rate level that neither slows down nor speeds up the economy – has been a much-debated...
Reviving the Gillard-era mining tax and slashing income taxes should be on the Albanese government’s agenda to boost Australians’ living standards, the International Monetary Fund has declared. In its annual assessment of the Australian economy on Thursday, the influential Washington-based body gave Labor and the Reserve...
Surging inflation has dashed hopes of one last rate cut and heightened expectations energy rebates will be extended. Expiring electricity subsidies helped drive up the annual consumer price index from 3.6 per cent to a 16-month high of 3.8 per cent in October, the Australian Bureau...
A single organisation will co-ordinate artificial intelligence rules in Australia, advising the government when laws need to change and ensuring businesses do not break them. Federal Innovation Minister Tim Ayres announced the creation of the Australian AI Safety Institute on Tuesday that will be responsible for...
Red tape in Australia has gotten so thick, compliance has become a major industry in its own right. In 2024, businesses employed 52,000 dedicated workers just to comply with regulation, a report released by the Australian Institute of Company Directors on Monday claims. That’s more staff than...
Australia could miss out on a $150 billion boost to its economy if it fails to invest in artificial intelligence, including sovereign AI models, regional hubs, training and infrastructure. But decisive investments in the technology could deliver an additional $235 billion within a decade, a study...
Australia’s social media ban for children under the age of 16 is facing a High Court challenge. The world-leading restrictions kick in on December 10, with children set to be booted from platforms including Instagram, Facebook, Snapchat and TikTok. In a statement on Wednesday, the Digital Freedom...
The coalition and Greens are holding out their support for environmental reforms, as Labor offers further concessions to try and strike a deal within days. The federal parliament has returned for the final sitting week of the year, with the Albanese government yet to secure the...
Victims of artificial intelligence deepfakes may be able to sue if their face or voice are stolen without their consent under proposed laws. Independent senator David Pocock is introducing a bill to federal parliament and says the government has not kept pace with rapidly evolving AI...