Smaller cities lead growth in home values
CANBERRA, AAP – A lift in house values in the smallest cities has driven growth across the country, despite stalling values in Sydney and Melbourne. CoreLogic’s national Home Value Index released on Friday was up 0.7 per cent in March, driven by stronger conditions in Brisbane, Adelaide, Perth and the ACT, along with several regional…
Inflation rise in June quarter: Treasury
SYDNEY, AAP – Australia’s inflation rate is expected to tick higher in the June quarter but the increase will be capped by a cut in the fuel excise announced this week. “Our central forecast is for inflation to pick up to four-and-a-quarter per cent through the year in the March quarter and June quarters,” Treasury…
Bullock appointed Reserve Bank deputy
CANBERRA, AAP – Michele Bullock has become the first female deputy governor of the Reserve Bank of Australia. Treasurer Josh Frydenberg announced Ms Bullock to replace retiring deputy Guy Debelle on Friday. She joined the central bank in 1985 as an analyst and has been an assistant governor since 2010. Ms Bullock is also a…
ASX stagnant, inflation concerns persist
SYDNEY, AAP – There was little to smile about for those trading the ASX200 on April Fools’ Day as the market seemed unwilling to stay above 7500 points. The market eased marginally to 7489.9 points on Friday, a day after closing at 7499.5 points. Most shares categories were lower after US markets fell by more…
Aged care reform pledge as election looms
CANBERRA, AAP – Anthony Albanese has pledged $2.5 billion to help the country’s aged care sector, as the Labor leader made the case in his budget reply speech to become the nation’s next prime minister. Mr Albanese laid out a five-point plan on Thursday night to overhaul aged care, including requirements for every aged care…
US taps oil reserve for six months: Biden
WASHINGTON, D. C., RAW – US President Joe Biden has launched the largest release ever from the country’s emergency oil reserve and challenged oil companies to drill more in an attempt to bring down petrol prices that have soared during Russia’s war with Ukraine. Starting in May, the United States will release one million barrels…
Russian gas ‘must be paid for in roubles’
MOSCOW, RAW – Russian President Vladimir Putin says he has signed a decree saying foreign buyers must pay in roubles for Russian gas from April 1 and contracts would be halted if these payments were not made. “In order to purchase Russian natural gas, they must open rouble accounts in Russian banks. It is from…
S&P has biggest quarterly drop in 2yrs
NEW YORK, RAW – Wall Street has slumped to close out the first quarter with its biggest quarterly decline in two years as concerns persisted about the continuing conflict in Ukraine and its inflationary effect on prices and the Federal Reserve’s response. While optimism about a possible peace deal between Ukraine and Russia helped lift…
Aust share market has best month in 16
SYDNEY, AAP – Surging commodity prices and the prospect of banks charging higher rates have helped the ASX to its best month in the past 16. The Australian market slipped lower in the final minutes of trading on Thursday but ended March with gains of 6.39 per cent. The benchmark S&P/ASX200 index closed down 14.9…
PM issues budget challenge to Albanese
CANBERRA, AAP – The government has challenged Anthony Albanese to outline Labor’s alternative economic approach when the Labor leader hands down his budget reply speech on Thursday night. Prime Minister Scott Morrison has attacked the opposition leader for having a lack of economic plan, just days out from the start of the federal election campaign….
