On two fronts now Morrison, who likes to be in control, is at the mercy of events he can’t control: the drought, and the IMF’s downgrading of Australia’s growth outlook.
The amount of Australians in mortgage stress is the reason why wages growth and the labour market are such a problem - and a big reason for the RBA not to raise rates any time soon.
If the stars align, consumers will benefit from increased economic activity in the short term. And if they don’t, then the economic recovery will have consumers saving more in uncertain times.
That “big government” hurts growth has become received wisdom, leading many countries to austerity policies. New research shows it is a lot more complicated than that.
Trade Minister Steven Ciobo told Q&A viewers that Australia has had 25 years of continuous economic growth, and is the only country in the world with a period of growth that long. Is that true?
Stock markets have been falling all year on concern the world risks slipping into a recession, which begs the question: how would we know if we were in one?
Amy Auster, Australian Centre for Financial Studies
This week’s Reserve Bank interest rate move surprised virtually everyone, bringing the cash rate to 2.25%, yet another historic low. Despite Australian Treasurer Joe Hockey suggesting the rate cut means…