The latest Statement of Monetary Policy from the Reserve Bank of Australia (RBA) forecast that the official unemployment rate would remain around its current level until the end of 2027: With “full employment” being one of the RBA’s mandates (the other being “price stability”), an increase in unemployment significantly above the forecast implies an increased
When China first began its meteoric rise to unparalleled industrial superpower, there were nations around the world who saw the Middle Kingdom’s rise as an opportunity, a new market in which to sell their goods. And for a while, the relationship between China and, in particular, Europe was heavily defined by the rise of the
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Before Tuesday’s interest rate decision, financial markets anticipated that the Reserve Bank of Australia (RBA) would deliver one more 25-bp rate hike in 2026 amid rising inflation concerns. Tuesday’s NAB Business Survey for November suggested that Australia’s inflation is not as broad-based as thought and also pointed to a further softening of the labour market—both
Lithium-ion battery prices fall to record low, with grid scale storage plunging 45 per cent in the last year, new survey shows.
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Recent reporting, and my own experience, indicates that the federal Labor government is seriously considering an expansion in the size of the Australian federal parliament, echoing the previous expansions in 1948-49 and 1983-84. But they are yet to commit to the issue.
Conversations with figures in the Labor government suggest that they are hoping to gain bipartisan support for the change, but recent rhetoric from opposition figures suggest that is unlikely to happen, regardless of the merits.
The Pacific Peso is on fire even before the RBA’s “hawkish hold” at yesterday’s meeting, keeping in on its short term trend that has seen it breach and hold the 66 cent level against USD. However its performing much better against the Asian countries, making a new yearly high against Yen: In fact it maybe
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Wall Street remained in a hold pattern overnight as everyone awaits the FOMC meeting with a selloff in Treasuries keeping USD somewhat supported, particularly against Yen while European shares also went nowhere. Yesterday’s RBA meeting where a hold was handed down amid hawkish commentary saw a selloff in local stocks and bonds as well with
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I reported on Tuesday on how the Albanese government will end its energy bill subsidies at the end of the year. The bill subsidies have cost taxpayers almost $7 billion since their introduction following the start of the war in Ukraine. With the energy bill subsidies removed, Australian voters will bear the true cost of
French oil giant developing massive multi-gigawatt solar and battery project south of Darwin that may be rival to bigger SunCable project further south.
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How my AI report on housework started well, then went off the rails
From being custodians of public knowledge, governments are turning to architects of manufactured ignorance. Amid disappearing evidence, citizens are struggling to hold power to account.
Around the world, governments are quietly deleting, manipulating, or withholding public data at an unprecedented scale, which is a direct threat to democratic accountability.
Ukrainian President Volodymyr Zelenskyy held a meeting with Pope Leo XIV at Castel Gandolfo, located outside Rome.
Research by Super Consumers Australia has found that the typical single retiree paying rent needs $659,000 in superannuation to enjoy a financially secure future, more than twice the $322,000 required by a homeowner. Couples face a similar gap: $786,000 for renters versus $432,000 for homeowners. Renters are three times more likely to struggle financially in
ISP warns of missed targets and added costs from delays, and as LNP throws coal spanner in the works
AEMO's latest ISP says wind, solar and storage still cheapest option to replace coal, but warns that slower rollout may result in missed targets.
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