Agriculture remains a major employer in Australia but the challenges of competition, food security and climate change are on the horizon.
AAP image/supplied by Graincorp
As the Coalition government prepares its second budget, how is the “five pillar” economy promised by Tony Abbott faring?
Fortescue Metals Group founder Andrew Forrest has suggested iron ore miners cap production, but it might have been unnecessary had he supported a well-designed mining tax.
Julian Smith/AAP
You know Australia’s in trouble when the Reserve Bank cuts interest rates. Last week, the central bank did precisely that, in belated recognition of the income recession that has struck. Gross domestic…
The policies Australia needs are being blocked in the Senate.
Lukas Coch/AAP
Much of the current political turmoil in Australia can be traced to Bill Clinton’s famous aphorism: “it’s the economy stupid” – in particular, the plunge in world commodity prices over the past few years…
The drop in oil prices, and consequently fuel costs, is driving down inflation and helping the Australian economy.
Andy Rain/EPA/AAP
The CAMA RBA Shadow Board is a project by the Centre for Applied Macroeconomic Analysis, based at the ANU, which asks industry and academic economists what interest rate the Reserve Bank of Australia should…
Volatility in the oil and gas markets is not being matched in the wider indexes.
Flickr/arbyreed
Financial markets are certainly experiencing considerable turbulence at present, with a six year low in oil prices weighing on international exchanges and the value of Australia’s energy industry falling…
When the construction phase of Queensland LNG projects like this one in Gladstone moves into production, there will be winners and losers.
Dave Hunt/AAP
The large Queensland liquefied natural gas (LNG) projects currently under construction will begin production over the next two years. Exploiting previously unused reserves of coal seam gas, the LNG produced…
The falling oil price might take some time to translate to lower prices at the bowser.
Julian Smith/AAP
While this year’s relative stability in crude oil prices appears to have lulled us into a false sense of security, the dramatic fall over the last few weeks reminds us just how volatile these prices can…
The federal budget deficit will blow out to A$40.4 billion in 2014-15, up from the $29.8 billion forecast in May’s budget, according to the Mid-Year Economic and Fiscal Outlook (MYEFO) released today…
Oil prices have dropped to levels not seen in years. It’s not all good news.
Reuters
The recent drop in crude oil and gasoline prices in the United States is a nice stocking stuffer for consumers this holiday season, but it could turn into a lump of coal. A global oil glut has caused the…
There is such a thing as ‘too precise’ when it comes to numbers. So what’s appropriate?
Erik Olsson
When numbers of any sort are presented in mathematics, science, business, government or finance, it’s fair to say a reader assumes that the data are reasonably reliable to their last digit. But presenting…
A common topic of discussion in Iran is oil and the mixed blessing it represents. The country’s recent history has been intertwined with that of international oil politics since 1908, when William Knox…
“Mister Thorn once cornered corn and that ain’t hay” sang Ella Fitzgerald, in the year that two speculators cornered the market for onions in Chicago. It was 1956, and Sam Siegel, a Chicago trader, and…
A missile submarine conducts tests.
Official US Navy Imagery
Since last week’s gas attack on a Damascus suburb, the political class has been gripped by the idea that “something must be done.” Meanwhile Wall Street, already declining through early August, fell further…
A myopic focus on short-term cyclical business cycles has meant successive governments have failed to carry much needed structural reform.
Image sourced from www.shutterstock.com
No sooner had Treasurer Wayne Swan accused the Europeans of “mindless austerity” a month ago than he embarked on a resolute but most likely counter-productive search for cost savings in the coming May…
As the price of gold continues to plunge, many investors are wondering whether the shiny commodity has lost its lustre.
Flickr\Bullion Vault
It has been a turbulent time for the gold market. The past two days of trading have been particularly volatile, with gold prices recording the sharpest two-day drop in 30 years . The severity of the fall…
As investment in mining projects hits its peak, the Australian economy will undergo a transition to export-led economic growth.
AAP
Various explanations have been offered for Prime Minister Julia Gillard’s decision to announce the date of the 2013 federal election almost eight months in advance. Most commentators, both those who applaud…
Australia’s mining boom is both a boon and a bane to our economic development.
Australia’s stark comparative advantage in mining is both a boon and a bane to our economic development. Investment in the mining industry as a share of Australia’s GDP has already reached unprecedented…
Celebrating: after being seen as a basket case for so long, Brazil’s economy is now powering.
AAP
Few countries have been left unscathed by the global financial crisis and it seems that they are all situated in the southern hemisphere. Brazil and Australia are some of them. Recently, their economies…