Big bank shifts rate cut tip as retail sales disappoint
A slow start to the year for consumers continues, with weaker-than-expected retail sales a sign of "scarring" from a spike in inflation.
A slow start to the year for consumers continues, with weaker-than-expected retail sales a sign of "scarring" from a spike in inflation.
Australian super balances have fallen for the first quarter since 2022, with funds warning of further risks posed by Donald Trump's "America first" agenda.
The economy lost some jobs in May, confounding expectations, but the Reserve Bank will likely view it as noise not signs of a weakening labour market.
More rate cuts might be needed to boost Australia's fragile economy with soft household consumption figures contributing to stalled growth.
Australia's economic growth weakened to 0.2 per cent in the March quarter, as the private sector struggles to pick up the slack from falling public demand.
Australia's economic momentum remains fragile with unseasonably warm weather and consumer concern contributing to weaker retail sales.
Cash rate has a three in front the first time in two years, after the RBA cut interest rates by 25 basis points. But was the 112 times Michele Bullock mentioned "uncertain" a more important number.
The official cash rate has a three in front of it for the first time in two years, after the Reserve Bank cut interest rates by 25 basis points, as expected.
The Reserve Bank is widely expected to deliver a second interest rate cut as global trade uncertainty threatens to rain on Australia's economy.
An unexpected jump in employment has led the money market to pare back its hopes for further mortgage relief after a widely expected rate cut next week.