Peter Martin

Peter Martin is the Economics Editor for The Age.

Commonwealth Bank economist John Peters says the spike in unemployment to 6.4 per cent in January 2015 had toned down ...

Wage growth plumbs new record lows

Wage growth has slipped to a new record low, with private sector wages climbing just 1.98 per cent in the year to June, well below the rates of 3 per cent or more recorded from the end of the global financial crisis to 2013.

Glenn Stevens oversaw the central bank's rate cut this week in his last major move as RBA Governor.

Banks respond to the Reserve Bank rate cut as one

Our biggest banks move fast. Either that, or they collude. At 2.37 pm on Tuesday within minutes of the Reserve Bank cutting its cash rate to an all-time low, the Commonwealth Bank announced a completely different way of responding. Instead of passing on some of all of the cut, it would only pass on half and hand some of the rest out to customers as higher term deposit rates.

"It's the new norm": Treasurer Scott Morrison.

Banks short-change mortgage customers

The Commonwealth and National Australia Banks have short-changed their mortgage holders by passing on only a fraction of the Reserve Bank's 0.25 per cent cut in interest rates, choosing instead to reward depositors by lifting the rate they offer on term deposits.