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Peter Martin

Peter Martin is the Economics Editor for The Age.

Fraser pledges to apply pressure over portability

Peter Martin THE man who will determine how easy it will be to switch from the big banks has signalled he will be formidable in getting answers from the big four, saying he knows how to ''cut through the...

Review to consider allowing portable account numbers


Peter Martin and Eric Johnston BANK account numbers may be made portable between banks after an inquiry by a former Reserve Bank chief.

Swan has no 'silver bullet' for banking reform

The Big Four

Peter Martin and Eric Johnston An inquiry to be headed by former Reserve Bank chief Bernie Fraser heads a package of measures aimed at taking on the big four banks, already derided by one of their competitors as ''not a silver...

NSW sets the pace in jobs growth

Peter Martin ECONOMICS CORRESPONDENT NSW is the engine of employment growth, producing jobs at a far greater rate than any other state or territory and at twice the rate of Western Australia.

Peter Martin

Finding an easier way to cross the road

PETER MARTIN Wayne Swan botched his first attempt to take on the banks and then propped them up and allowed them to swallow competitors during the financial crisis.

Cash rate expected to stay settled for months

Peter Martin THE Reserve Bank has ended its year gently, leaving interest rates on hold and signalling they are likely to stay that way for some time.

Treasurer bashes bank profiteers

Wayne Swan

Peter Martin AUSTRALIA'S big four banks will face government-backed competition and much greater scrutiny as part of measures aimed at weakening their market position to be unveiled on Wednesday.

Retail figures point to bleak Christmas

Inflation, retail, sale, economy, shop, shopping

Peter Martin ECONOMICS CORRESPONDENT RETAILERS are bracing themselves for a blue Christmas after a shocking set of figures showing consumers were winding back spending even before this month's interest rate rises.

Australian economy slides back into the pack


Peter Martin AUSTRALIA has lost its mantle as a world-beating economy after a sharp drop in economic growth returned us to the middle of the international pack, cast doubt on the Reserve Bank's decision to lift...

It looks like a positive quarter for GDP after all

Peter Martin AUSTRALIA is set to be spared a quarter of economic contraction in the national accounts to be published this morning.

RBA calls big four's bluff on rate rises

Clancy Yeates and Peter Martin THE Reserve Bank has dismissed claims by the big four banks that their costs are climbing faster than the cash rate.

Mining keeps money rolling in, but slowdown expected

Peter Martin THE Reserve Bank governor, Glenn Stevens, has hailed the strength of the economy before new figures are published tomorrow that are expected to show that growth has stalled.

No more rate increases for now, says Reserve chief

Peter Martin ECONOMICS CORRESPONDENT THE man who sets our interest rates has good news for summer: we can relax. Rates are not going up again ahead of Christmas and probably not until well into the new year.

Cloudy horizon but economic forecast still strong


Peter Martin ECONOMICS CORRESPONDENT NO ONE is talking recession but financial market economists are seriously considering the next worst thing - an end to Australia's extraordinary run of economic growth.

Australia could be rent asunder by mining boom

Peter Martin ECONOMICS CORRESPONDENT THE Treasury boss, Ken Henry, has painted the bleakest of futures for firms hurt by the sky-high dollar.

Big four banks warned of fabulous five


Peter Martin ECONOMICS CORRESPONDENT THE Treasurer, Wayne Swan, has raised expectations of an assault on the power of the big four banks in next month's banking statement, saying he is ''determined to see a new pillar in the system'' to...

Reserve gives bank boss no margin for argument

Peter Martin ECONOMICS CORRESPONDENT RALPH NORRIS should be careful what he wishes for. In the heat of argument about bank margins this week the Commonwealth Bank chief said he would ''tend to take the view of the Reserve Bank over the...

Rising interest rates the price of world-beating employment record

Peter Martin ECONOMICS CORRESPONDENT AUSTRALIA'S unemployment rate, already among the world's lowest, is set to remain low well into the 2020s.

Pressure starts to build in the pay cooker

Queensland's state politicians will pocket an extra 2.5 percent in wages.

Peter Martin After remaining at or below 1 per cent per quarter since the onset of the financial crisis, Australia's long-awaited wages blowout may be on the way.

Big four return fire at analysis of cash rate data

Peter Martin and Clancy Yeates THE big banks have struck back at claims they have been fattening their margins, rejecting an analysis of official data that shows their costs climbing more slowly than the Reserve Bank cash rate,...