Treasurer Jim Chalmers has pushed back at claims from John Howard that the government is trying to blame the Reserve Bank for its economic troubles.
The treasurer is utterly at odds with those in the Reserve Bank who say the economy is running a bit too hot – and he does not mind if Australians watch the argument live.
Despite Kamala Harris’ ascent in the polls,it remains quite possible that Donald Trump will win the US election. And if he does,inflation in the world’s largest economy may become a major problem again.
Government spending on everything from major infrastructure to aged care workers has probably stopped the economy from contracting over the past three months.
Melbourne property values fell while Sydney’s rose less than inflation,according to fresh data,as the Greens push for a new renters’ advocate and the Liberals threaten to make housing a condition of federal funding.
Familiar to consumers of chocolate bars,shrinkflation is now being used by Australians to deal with high-priced houses.
Inflation has stepped down further as power and petrol prices ease,but the easing of price pressures may be too late for struggling retailers.
The Australian sharemarket recovered in afternoon trade as gains by supermarket giant Woolworths and the big four banks offset losses by the mining heavyweights.
Annual inflation has eased to 3.5 per cent in another sign that price pressures are starting to ease across the economy.
Jerome Powell has signalled that the Fed will soon cut US rates for the first time since it began raising them aggressively more than two years ago. It may have missed its moment.
Soaring premiums have driven an extra 300,000 households into financial stress.