The Reserve Bank board is committed to doing what is necessary to ensure inflation returns to the two to three per cent target and households should be prepared for further interest rate rises, governor Philip Lowe has warned. He said while rising inflation had been driven...
Petrol prices have returned to the levels experienced at the time of the March federal budget, but would be a lot higher if not for former treasurer Josh Frydenberg halving fuel excise for six months. Last week the Australian Competition and Consumer Commission said the cut...
It was one of several unconventional monetary policy tools used by the Reserve Bank of Australia during the depths of the COVID-19 pandemic, but a new review has indicated it is unlikely to be used again. The three-year bond yield target was introduced at an emergency...
How to become a legal personal representative (LPR), get a grant of probate and appoint a tax agent. Do you have authority to deal with us? To have full authority to manage the deceased’s tax affairs, you must be their legal personal representative (LPR). If you are not...
Power prices spiked in June up to five times higher than the wholesale price at the start of 2021, the consumer watchdog has revealed. The chair of the Australian Competition and Consumer Commission says the watchdog is actively monitoring power companies to ensure they do not...
Australia’s housing affordability will worsen over the rest of this year as interest rates rise, despite falling property prices and increasing household incomes, Moody’s Investors Service warns. In a new report, the global credit rating agency says house prices are unlikely to fall enough to offset...
Australia’s heavy industries have joined forces to devise a $100 billion plan to go green amid global pressure to respond more rapidly to climate change. An 88 per cent cut to carbon emissions is possible across refineries, pipelines and steelworks from the Pilbara and Kwinana in...
The Australian share market has been unable to sustain its morning gains, closing in negative territory for the 10th time in the past 12 sessions. The benchmark S&P/ASX200 finished on Wednesday down 15.3 points, or 0.23 per cent, to 6,508.5, while the broader All Ordinaries dipped...
Extra resources are being urgently allocated to clear visa backlogs for skilled migrants, international students and tourists, the immigration minister says. Andrew Giles said while the pandemic affected visa processing, the system needed to be rebuilt after nine years of neglect under the previous government. Any short-term...
An energy market blueprint that would pay old and new generators to guarantee capacity in the electricity grid has been released for public scrutiny. Coal-fired power plants and new renewable assets would be eligible for payments under a proposed “capacity mechanism” put to energy ministers and...