Half of Australia's big four banks are tipping the Reserve Bank to hike interest rates at its next meeting as inflation is pushed outside the target zone.
The federal treasurer says he's booked another $20 billion in savings in the budget update, but is keeping mum on whether that means a smaller deficit.
More than $12 billion in program cost blowouts demand tighter spending in other parts of the federal budget, the treasurer is warning Australians.
The average mortgage-holder's repayments could soon jump an extra $90 a month, with another Reserve Bank interest rate hike on the cards as early as February.
Australia's economic growth rate came in below market expectations, but a strong domestic pulse shows the economy is in good shape.
The Reserve Bank may soon need to tap the brakes as Australia's economy approaches its speed limit as high government spending collides with low productivity.
Developing just a fraction of single-occupancy homes in Australian cities into duplexes would be enough to eliminate the nation's housing shortfall.
Economists say the Reserve Bank might have lowered interest rates too far after a surprise inflation print revealed price pressures are still running hot.
A Reserve Bank official says the neutral rate may have increased since the pandemic, which would limit how far rates could be cut without adding to inflation.
More than 80,000 sorely needed homes cannot be built due to a lack of investment in power, roads and sewers, councils say.
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