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The Latest Breaking News from Saul Eslake

‘Inflationary storm’: RBA hikes interest rates to contain fallout as prices surge

The Reserve Bank has slapped households with another painful interest rates hike in July as it tries to curb soaring inflation.

The New Daily

Shares, property, bonds, cryptocurrencies face major falls, Australian Office of Financial Management CEO warns

Australian Office of Financial Management CEO Rob Nicholl says a decade of record-low interest rates and money-printing programs across the world is coming to an end and the impact will be major.

ABC News

More interest rate pain: RBA’s sobering inflation warning to households

Australians must brace for several years of high inflation and rising interest rates, Reserve Bank governor Philip Lowe warned in a speech on Tuesday.

The New Daily

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read the most diverse news in one place.

Where did the RBA find evidence of wage growth?

The Reserve Bank of Australia is facing a federal government review, and we found one good reason for it: Wages growth data has come from a source that an expert called not "statistically valid".

ABC News

Open letter: the RBA review needs to be completely independent of government

This is the text of an open letter from 12 leading economists, sent on Sunday:

The Conversation

Jim Chalmers banks on capital spending to help ease cost-of-living crisis

New treasurer says Labor is ‘not contemplating’ extending fuel excise cut or low and middle income tax offset

The Guardian - AU

Should you leave your money in superannuation or put it towards a deposit for a first home?

Allowing first home buyers to draw their superannuation will likely, over time, push up house prices, according to many leading economists, but are you better off leaving your money in your super fund or pulling it out for a home deposit?

ABC News

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Coalition super housing policy likely to inflate prices by increasing demand, analysts say

Saul Eslake points to ‘unambiguous and unequivocal evidence’ showing such policies lift prices rather than home ownership

The Guardian - AU

Government minister admits first home buyer policy would push up house prices, PM says other policies would balance it out

Jane Hume concedes the policy would see house prices increase "temporarily", something economists and the opposition are warning will happen.

ABC News

Paul Keating attacks Coalition’s super for housing policy as economists warn of soaring prices

A Coalition plan to allow first-home buyers to use their superannuation to buy property has been slammed by Paul Keating as a "frontal assault" on super.

The New Daily

Markets turmoil and interest rate rises: the economic challenges facing Australia after the election

Soaring energy costs, stagflation fears and calls for higher wages are just some of the bumps in the road awaiting a new or returned government

The Guardian - AU

Vic to spend $12b on health post-COVID

Stretched to its limits over the past two years, Victoria's health system will receive a $12 billion boost as part of this year's pre-election budget.

AAP

Will the RBA lift the cash rate this week to counter inflation – or wait until after the election?

Analysis: The Reserve Bank of Australia finds itself in a strategic and political bind. Credibility is at stake

The Guardian - AU

Clive Palmer’s campaign pledge to cap home loan rates ‘utterly irresponsible’, experts say

United Australia party plan to combat rising rates an ‘just an attention grabber’ and not genuine policy, critics say

The Guardian - AU

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ABC News

Jim Chalmers says the current government has taxed, borrowed and spent more than Labor did. Is that correct?

Shadow Treasurer Jim Chalmers says the current government has taxed, borrowed and spent more than the previous Labor government. RMIT ABC Fact Check takes a look at his claim.

The Conversation

Politics with Michelle Grattan: Economist Saul Eslake on why Reserve Bank needs to raise rates next week

After Wednesday’s larger-than-expected inflation number, all attention has turned to the Reserve Bank’s meeting on Tuesday. If the bank moves next week, it will be the first time there’s been a rise in a campaign since 2007, the election John Howard lost.

The Conversation

He's the treasurer who may become the next leader of the Liberal Party. So how high can Josh Frydenberg fly?

`This is the first in a two-part series on the major parties’ Treasury spokespeople. You can read Carol Johnson’s profile of Jim Chalmers here.

ABC News

Worldwide coffee bean shortages and rising fuel prices hit cafes hard, with price spikes here to stay

There's a lot more that goes into your daily caffeine hit than you may imagine and small businesses are bearing the brunt of rising input costs. Now you'll have to fork out the difference.

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ABC News

Business calls for political 'courage' to confront industrial relations reform

Business groups are urging both political leaders to show "courage" and confront the politically fraught issue of industrial relations, arguing any benefits of future wage growth could be delayed by an inflexible enterprise bargaining system.

The Conversation

Forget the election gaffes: Australia's unemployment rate of 4% is good news – and set to get even better by polling day

When Labor leader Anthony Albanese couldn’t say whether the unemployment rate was 5% or 4% on Monday, he might have had a point.

The Conversation

One issue matters more to top economists than any other this election: climate change

Offered a menu of issues to choose from as the most important in the May 21 election, Australia’s top economists have overwhelmingly zeroed in on one.

The Guardian - AU

Scott Morrison spruiks Australia’s post-Covid jobs recovery. We factcheck him

PM says Covid had a much greater economic impact than the GFC but employment outcomes have been much better post-pandemic. Correct?

ABC News

With WA’s budget surplus surging, its GST share is also skyrocketing as the federal election looms

WA's budget surplus is forecast to be an eye-watering $8 billion, yet it will soon receive more than $4 billion in extra GST revenue. While critics label the situation "scandalous", neither party seems willing to upset the apple cart on the eve of a federal election.

The New Daily

‘It’s over’: The COVID property boom is ending as prices fall in Sydney and Melbourne

March house price falls will be welcomed by buyers after a two-year boom that's seen property values rise by 18.2 per cent over the past year alone.

The Guardian - AU

‘My coffee has gone up $6,500 a year’: Australian businesses emerging from Covid crisis struggle with food price hikes

Cafes and food producers across country are grappling with the dilemma of whether they can pass on rising costs to customers and remain competitive

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