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RBA makes interest rate call amid shock property trend

The Reserve Bank of Australia has handed down its interest rate decision for June as lenders begin to increase rates. ....

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Australians Support Falun Dafa Practitioners on World Falun Dafa Day

Australians Support Falun Dafa Practitioners on World Falun Dafa Day
Federal minister shows support on World Falun Dafa Day
MELBOURNE, Australia Federal Liberal MP Tim Wilson, Australia’s former human rights commissioner, has given his support to Falun Dafa practitioners on World Falun Dafa Day saying he believes liberal democratic countries, like Australia, have a responsibility to uphold religious freedoms in the face of “cultural hegemony,” being imposed by oppressive authoritarian regimes such as the Chinese Communist Party (CCP).
Wilson made his remarks in a letter of support for World Falun Dafa Day, marked annually around the world to celebrate the anniversary of Falun Dafa’s introduction to the public in 1992 by founder Mr. Li Hongzhi. ....

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Reserve Bank charts course for jobs surge — but wages will still struggle

Reserve Bank charts course for jobs surge but wages will still struggle
Ahead of Friday s second Statement of Monetary Policy for the year, RBA governor Philip Lowe is the most optimistic he s been for a year.
Reserve Bank Governor Philip Lowe (Image: AAP/Joel Carrett)
Next week s budget will be presented in what will be the most propitious economic circumstances in years according to the Reserve Bank of Australia (RBA).
This Friday will see the RBA release its second Statement of Monetary Policy for the year, and governor Philip Lowe yesterday gave us a preview with his post-meeting statement from the May board meeting. It suggests the most optimism issued by the central bank for more than a year so much so that one key part of its groundbreaking monetary policy relaxation was all but terminated. ....

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Going to be 'very hard' for the RBA to hit inflation target in the new economy: Switzer

Sky News contributor Peter Switzer says he thinks "it's going to be very hard" for the Reserve Bank to see inflation hit its target range before increasing interest rates because "the world is so different" economically.

"The kind of stuff that we thought drove inflation has changed before our eyes, so we don't get inflation the way we used to," he said.

Inflation fell to 0.6 per cent over the last quarter, well below the 0.9 per cent figure forecast by private-sector economists.

Annual core inflation now sits at 1.1 per cent with Reserve Bank Governor Philip Lowe pledging not to raise interest rates until that number returns to the two to three per cent target range.
....

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Victorian Opposition Says State Budget Will Return to Surplus by 2026 if Elected

Victorian Opposition Says State Budget Will Return to Surplus by 2026 if Elected
The Victorian opposition has pledged to bring the state budget back to surplus within five years if the Liberal and National coalition wins next year’s election.
This announcement by shadow treasurer Louise Staley comes after the Andrews government announced a plan in November 2020 to overturn the COVID-19 induced economic downturn with an unprecedented $23.3 billion budget deficit by the next financial year.
Staley told reporters on April 26 that the coalition will overturn the Andrews government’s state deficit through sustained economic growth, reducing government “waste,” and lobbying the commonwealth for a greater share of the GST. ....

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