Topic: Domestic markets

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Jobless rate up to 6.2 per cent as employment falls

Mixed messages on the economy this week. The April labour market report showed the headline unemployment rate ‘only’ rose to 6.2 per cent, a much better result than markets had expected. But the devil...

IMF warns ‘The Great Lockdown’ will trigger the worst global recession since the 1930s

The IMF thinks that the baseline scenario for the world economy is a three per cent contraction this year. That would make the Coronavirus Crisis (CVC), or the Great Lockdown to use the IMF’s ph...

Economic indicators plummet at a rate exceeding that of the Great Recession

Last week, we noted that the extent of financial market turmoil was reminiscent of the global financial crisis (GFC). This week we’ve seen increasing numbers of forecasters suggest that the Coronavir...

RBA goes unconventional as COVID-19 crises prompts radical policy responses

The economic impact of COVID-19 is unfolding through a series of interconnected crises. In the real economy these will take the form of vicious demand and supply shocks. Although these are now appeari...

Canberra hits the stimulus button as WHO declares pandemic and global markets tumble.

The federal government has announced a $17.6 billion stimulus package designed to support business and jobs. Markets are also pricing in another RBA rate cut at next month’s meeting. Signs of the im...

Central banks battle COVID-19 as RBA cash rate hits 0.5 per cent and Fed delivers first emergency ra...

The RBA cut the cash rate by 25bp this week, seeking to protect the economy from the economic and financial market disruption triggered by COVID-19. With only 25bp left before we hit the effective low...

Global financial markets flinch on virus fears

A quiet week on the Australian data front before next week’s big download, which will bring Q4:2019 GDP, as well as the 3 March RBA meeting. Instead, attention has focused on the sharp financial marke...

Labour market woes: Unemployment rises as wage growth stagnates

The economy continues to be stuck with a relatively high level of labour market slack and sluggish wage growth.  The unemployment rate rose to 5.3 per cent in January while the underemployment rate cl...

New forecasts, new risks...and some familiar themes

Last Friday, the RBA released its February Statement on Monetary Policy which showed the central bank is now more downbeat on the near-term outlook than it was back in November, due to the twin impact...

Pre-Budget Submission 2020-21

On behalf of the Australian Institute of Company Directors (AICD), I am pleased to provide this submission to Treasury ahead of the release of the 2020-21 Federal Budget.
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