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Peter Martin

Peter Martin is the Economics Editor for The Age.

Westpac, Commonwealth Bank protect mortgage profits no matter what

Peter Martin If the Commonwealth Bank and Westpac had been located anywhere else, they wouldn't have pushed up rates.

Business conditions 'picking up', says Treasury secretary John Fraser

Peter Martin So much are business conditions improving that the head of the treasury says he no longer gets "beaten up" when he asks how things are going.

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Peter Martin

Treasury boss John Fraser says Westpac's interest rate hike not justified

Secretary of Treasury John Fraser (left) and Finance Minister Senator Mathias Cormann both believe Westpac overstepped in raising interest rates.

Peter Martin Treasury boss John Fraser says he agrees that Westpac pushed up interest rates by more than was needed.

Financial system inquiry: Asking what super is for opens a can of worms

The Murray Review demanded that someone should actually define the purpose of superannuation.  Illustration: Simon Letch

Peter Martin The Treasurer jumped the gun. Promising in his formal response to the financial system inquiry to determine and enshrine in legislation the objectives of Australia's $2 trillion superannuation system...

Reserve Bank minutes: Safe bet on the RBA to stay put on Melbourne Cup Day

Reserve Bank board minutes suggest the economy is in better shape than it seems.

Peter Martin Melbourne Cup day looks set to come and go without a cut in the cash rate.

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Malcolm Turnbull looks to fix mistakes of the past

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Peter Martin Wayne Swan argued Australia's financial system didn't need fixing. Malcolm Turnbull's response to the Murray inquiry shows how wrong he was.

Choice matters to 2015 Nobel Prize in Economics winner Angus Deaton

Nobel Prize winner Angus Deaton.

Peter Martin Too often in economics experts make guesses about an individual will respond to a change in circumstances (such as higher wages or higher prices) and then simply assume that the entire nation of...

ABS population statistics: Victoria becomes Australia's fastest growing state

Australia's population growth rate is now well below the 2.1 per cent achieved during the height of the mining boom.

Peter Martin An "extraordinary surge" in population has pushed Victoria to the top of the national ladder after it gained an extra 97,500 citizens in the year to March, a growth rate to 1.7 per cent.

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AFR tax summit: Strip GST powers from states, John Brumby says

Former Victorian premier John Brumby wants a rethink on GST approval.

Peter Martin John Brumby believes it is "nonsense" to suggest the GST rate couldn't be changed without the agreement of every single state.

Reserve Bank's Glenn Stevens to Fed chair Janet Yellen – get on with it and lift rates

RBA governor Glenn Stevens

Peter Martin Reserve Bank governor Glenn Stevens has taken aim at the head of the US Federal Reserve Janet Yellen, saying it's time to stop stalling and push up interest rates for the first time in nine years.

RBA's Glenn Stevens 'pretty content' with local interest rates now

Peter Martin The Reserve Bank has poured cold water on speculation about a further cut in Australian interest rates, saying it is "pretty content" with where they are now.

Reserve Bank governor Glenn Stevens expects a US rate rise by Christmas

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Peter Martin "Sooner or later it has to happen," RBA governor Glenn Stevens tells the parliament's economics committee.

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Reserve Bank minutes suggest bank will sit on its hands

While the nation ponders the direction of the economy under a new prime minister and possibly new treasurer, the RBA under Glenn Stevens would like to stay its hand.

Peter Martin The minutes of its September board meeting, released on Tuesday, show wage growth low, growth in the consumer price index low, and "spare capacity" in the economy, meaning any boost to the economy...

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ABS data shows people are finding jobs, but can't find the hours

In the past 10 months an extraordinary 245,000 extra Australians have found work.

Peter Martin It's easier to get a job than it has been at any time in the past two years, although not as easy to get good hours.

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ABS August unemployment data: Behind the spin, the jobs market is picking up

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Peter Martin Unemployment remains high at 6.2 per cent, but the best measure of the jobs market shows things improving.

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Don't panic if the unemployment rate hits 6.5 per cent

If unemployment hits 6.5% today, it will mark a 13-year high.

Peter Martin Prepare to be shocked. On Thursday the Bureau of Statistics is likely to tell us that the unemployment rate has scaled new heights, climbing from 6.3 per cent to as much as 6.5 per cent.

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Why we need the Australian dollar to be US60c

Martin

Peter Martin The Australian dollar has dipped below 70 US cents twice in the last two days. Next time, it's set to stay below 70 and keep falling.

Economic growth close to zero as living standards slip

Joe Hockey

Peter Martin A sharp fall in national income has all but obliterated economic growth, pushing down income per head by the most since the GFC.

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Wine equalisation tax rebate widely rorted, Treasury says

Whereas beer and spirits are taxed per unit of alcohol, wine is taxed on the basis of its wholesale price.

Peter Martin Wine producers face the prospect of losing their generous tax rebates in the wake of a treasury finding of widespread and systematic rorting of the scheme.

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Unemployment rate, jobs both record surprise jumps

Peter Martin Employment surged in the month of July even as the unemployment rate climbed from 6 to 6.3 per cent.