Real economy needs 'animal spirits', but RBA's Glenn Stevens leaves jawbone at home

Reserve Bank of Australia Governor Glenn Stevens said he's content with the current monetary policy setting and stands ready to do more if needed.


James Packer to launch new foundation

Mr Packer said his sister Gretel Packer was the

Jessica Gardner James Packer has pledged an average of $20 million a year to Australian charities over the next 10 years through the establishment of a new philanthropic foundation.

Australia's three speed economy in danger of stalling

Housing construction is helping keep the WA economy in the lead.

Stephen Cauchi Australia now has a three-tier economy but even the best performing states may be in for tougher times.


NSW economy gaining momentum

Like the Waratahs, the NSW economy has found some momentum.

It would seem the renewed strengths of NSW go beyond Super 15 rugby and the State of Origin.


More jobs will be lost to robots, says Seek boss

Robots and automation are moving beyond manufacturing.

The head of Australia's largest online employment website says more people will lose their jobs and will have fewer opportunities to find work as businesses increasingly replace labour with...


Business confidence down, but not hopeless

Property and construction were the most confident sectors in the NAB survey.

Luke Malpass Business confidence has fallen for the second consecutive quarter, but remains resilient overall as conditions improved, according to a survey from National Australia Bank.


Economic growth below trend for rest of 2014

Growth in Australia's GDP will remain below trend for the rest of 2014.

Mark Mulligan GDP growth is likely to remain below trend for the rest of 2014, despite a strong first quarter this year, according to the latest Westpac-Melbourne Institute Leading Index of Activity.


Murray inquiry calls for reform of capital gains and negative gearing

Tax file numbers have been stolen in order to make fraudulent tax return claims.

Stephen Cauchi Reform of capital gains tax and negative gearing should be a priority in the forthcoming tax white paper, according to the Murray Financial System Inquiry.


RBA prepared to keep rates on hold, despite dollar concerns

RBA governor Glenn Stevens.

Mark Mulligan The RBA has indicated it will leave interest rates unchanged for some time, although there are ongoing concerns about non-mining growth and the high Australian dollar.


RBA sticks with stable rates outlook

RBA Governor Glenn Stevens

Australia's central bank reiterated it expects a period of stable interest rates as the government cuts spending and the economy transitions from mining-investment led growth.

Michael Pascoe

Australia's love affair with credit cards is waning

Online boom puts more shoppers in harm's way.

Michael Pascoe We’re using the credit cards we have more, but getting better at paying them off.


The RBA says you're probably better off renting

Renters could find themselves better off than home owners.

Jonathan Shapiro, Toby Johnstone, Stephen Nicholls The conventional wisdom that has underpinned the Australian dream of home-ownership could be flawed, according to a research paper published by the Reserve Bank.


Consumer borrowing remains sluggish


Mark Mulligan Borrowing by consumers remained sluggish in May, while businesses and property developers were happier to take advantage of low interest rates.


RBA's Glenn Stevens says Fed rate rise will bring disruption

Reserve Bank governor Glenn Stevens and US Federal Reserve chair Janet Yellen in Sydney in February.

Reserve Bank of Australia governor Glenn Stevens said he sees the "likelihood of some disruption in markets" when the US Federal Reserve raises interest rates.


Economists reject Abbott crisis claims

Abbott: 'We will scrap this toxic tax' (Thumbnail)

Gareth Hutchens Leading economists have rejected the Abbott government's claims of a ''budget emergency'', saying the budget only faces a medium-term ''problem'' rather than a crisis, which should be dealt with...

Loans data shows Australia's housing boom is cooling

Despite a slight drop in home loan approvals the Australian property market remains strong.

Australia's housing boom is cooling off, but the market remains strong, as home loan approvals held steady in May.


It's a matter of confidence: If in doubt, blame the carbon tax

Glass half empty or half full? The latest jobs statistics are an opportunity for Joe Hockey to talk up the economy - or be gloomy.

Michael Pascoe The latest labour force statistics have something for everyone: pessimists will point to the rise in the headline seasonally adjusted unemployment rate to 6 per cent; optimists will concentrate on...


Unemployment rate holds steady for June

Canberra is now home to a rapidly increasing number of employers planning on slashing their workforces.

Stephen Cauchi Australia’s unemployment rate for June has held steady at 5.9 per cent, according to figures released on Thursday by the Australian Bureau of Statistics.


'Disappointing' July confidence data as consumers remain wary

Consumers' feelings about the state of the economy have yet to fully recover from the federal budget.

Mark Mulligan Consumer sentiment picked up slightly in July, although households are still reluctant to spend and remain uneasy about the economy.

Australia business conditions at 5-month high

Retail sales fell in May, falling short of a prediction of flat sales for the month.

A measure of Australian business conditions hit the highest in five months in June as a pick up in sales and profits helped firms stay confident in the wake of an unpopular federal budget.