Changes to interest rates could have less of an impact on household spending than traditionally thought, which means the Reserve Bank might have to hike or cut harder to achieve its aims. Despite the RBA hiking interest rates in one of its sharpest tightening cycles in...
Property prices grew at the fastest rate in more than two years following the federal government’s expanded deposit guarantee scheme kicking in, but there is not enough evidence of a direct link between the two, housing experts say. Home values grew at 1.1 per cent in...
Whether Australia takes the road to prosperity or stays in the slow lane depends largely on fixing productivity, according to a top Reserve Bank official. Australia’s economy faces three possible paths forward, RBA deputy governor Andrew Hauser told a room of investors on Monday. And which route...
Australian households are optimistic about their economic prospects for the first time since the start of an inflation spike almost four years ago. The Westpac-Melbourne Institute Consumer Sentiment Index climbed above 100, meaning optimists outnumbered pessimists, marking a watershed moment for Australia’s economy since sentiment soured...
A lack of rules governing artificial intelligence technology is holding Australian businesses back, a report has found, and could result in them squandering a $142 billion opportunity. Networking firm Cisco and the Governance Institute of Australia issued the warning on Tuesday after conducting research across multiple...
Job figures are set to take centre stage as economists continue to mull whether borrowers have seen their last Reserve Bank rate cut this cycle. In the first major piece of economic data since the RBA left interest rates on hold last week, the unemployment rate...
Australia’s new-found love for hybrid cars is impacting the second-hand market, with thousands more low-emission vehicles changing hands and pushing down sales of pure petrol models. The Australian Automotive Dealer Association and AutoGrab revealed the trend on Tuesday, with figures showing used hybrid car sales had...
Ground-breaking planning reforms aimed at speeding up the construction of homes in one state have been hailed as generational but some critics say serious environmental concerns are being brushed aside. The reforms passed in the NSW parliament with overwhelming bipartisan support on Tuesday night and were...
Housing stock is going backwards and won’t improve unless planning approvals for higher density are easier in every capital city, a report warns. While the federal government celebrates the early success of a scheme getting more buyers into their first homes, progress could grind to a...
The federal government’s answer to ChatGPT will be installed in every public servant’s laptop as part of a major push to boost artificial intelligence use and productivity in the public service. Under the first whole-of-government AI plan, unveiled by Finance Minister Katy Gallagher on Wednesday, federal...