Commentary Inflation is rising everywhere, which does not mean it’s not a problem for politicians in Australia, just that they are a subset of politicians everywhere. So we are seeing a global hunt for alibis and scapegoats. In Australia, the federal government and the union movement have chosen business—in particular mining and food—as their fall…
Who Do We Target in the Inflation Blame Game?
February 27, 2023
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Australian Reserve Bank Makes Another Modest Hike, Lifts Cash Rate to 2.85 percent
November 1, 2022
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The Reserve Bank of Australia (RBA) has raised the cash rate by 25 basis points to 2.85 percent, its seventh consecutive interest rate hike. Despite the most recent data revealing inflation jumped to 7.3 percent in the September quarter, the highest level since 1990, the RBA has chosen a much less aggressive interest rate hike…
Blaming Big Business Profits for Inflation an ‘Incoherent Narrative’: Economist
September 18, 2022
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An economist has criticised claims that business profits are driving up inflation, calling it an “incoherent narrative.” His comments come as businesses come into the firing line of commentators, politicians, and the Reserve Bank of Australia amid rising inflation in the country. Australia’s official inflation rate has risen in lockstep with fellow democratic nations like…
Blaming Business Profits for Inflation an ‘Incoherent Narrative’: Economist
September 18, 2022
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AustraliaAustralian inflationBusiness & MarketsCCP VirusCompanieseconomic policiesinflationInternationalphilip loweWorld
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An economist has criticised claims that business profits are driving up inflation, calling it an “incoherent narrative.” His comments come as businesses come into the firing line of commentators, politicians, and the Reserve Bank of Australia amid rising inflation in the country. Australia’s official inflation rate has risen in lockstep with fellow democratic nations like…
Reserve Bank of Australia to Go Under Review for First Time in Decades
July 20, 2022
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Treasurer Jim Chalmers has announced the first major review of the Reserve Bank of Australia (RBA) since the 1990s and will scrutinise its inflation target arrangements, policy tools, governance, and culture. “This is an important opportunity to get the ball rolling on the Reserve Bank review that the country desperately needs to make sure that…
Government Can’t Control Ukraine War but Can Help Australians With Cost of Living: Independent MP Dai Le
July 13, 2022
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An Australian Independent MP has said that Prime Minister Anthony Albanese should focus on helping Australians suffering from the cost of living crisis rather than let international affairs such as the war in Ukraine divert his attention. The comment comes after Albanese pledged $100 million in military aid for Ukraine after visiting the war-torn country…
Make No Mistake, Higher Minimum Wages Have Unintended Consequences
June 28, 2022
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Commentary The Australian Fair Work Commission’s (FWC) recent decision to increase the federal minimum wage by 5.2 percent and 4.6 percent for award minimum wages was higher than most expected. Usually, the FWC strikes a balancing act between the demands of unions and employer groups. But this year, there can be no doubt the commission…
A Soft Landing for the Australian Economy?
June 23, 2022
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Commentary The economic news of the last couple of weeks in Australia is bleak at best and demoralising at worst. The skyrocketing prices of energy, meat, vegetables, and petrol have led to big increases in the cost of living. Vegetables have increased by 6.1 percent, and beef and veal have increased by 8.1 percent. Petrol…
Australians Struggle as Inflation Drives Up Necessity Prices
Australians are starting to find it a struggle to live with the rising costs of living as everything from food to rent continues to increase with the rising price of goods and services, causing the Reserve Bank of Australia (RBA) to revise its inflation forecast to six percent over the second half of 2022. According…
Inflation Will Hit 6 Percent by the End of 2022: Reserve Bank of Australia
May 6, 2022
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After the most recent surge in inflation to 5.1 percent during the March quarter, vastly surpassing expectations, the Reserve Bank of Australia (RBA) has revised its inflation forecast to 6 percent over the second half of 2022. “As observed in other advanced economies, consumer price inflation in Australia has picked up markedly since the middle…
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