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Showing 11 - 20 of 1246 results for "Household"

Government reports improved fiscal outlook

ANDREW MCKEAN  |  WEDNESDAY, 13 DEC 2023
... by only 1.75% in 2023-24, before regaining momentum in 2024-25 as improving real incomes growth support a recovery in household consumption. Also, inflation, while moderating, remains a concern, but is expected to return to the target range soon. "After ...

Impact of debt on retiree confidence a mixed bag

CHLOE WALKER  |  TUESDAY, 12 DEC 2023
... would opt to sell and downsize to reduce their debt. According to the Australian Bureau of Statistics, the amount of household debt now sits at an average of $242,000 for Aussies over 55. According to the study, three in five respondents believe that ...

Final QAR reforms open door to super funds

CASSANDRA BALDINI  |  THURSDAY, 7 DEC 2023
... member's superannuation account. This will allow funds to consider a broader range of a member's personal and household circumstances, such as debt, spouse's income, or Age Pension eligibility. The new legislation aims to empower funds to ...

Interest rates on hold as RBA pauses

CHLOE WALKER  |  WEDNESDAY, 6 DEC 2023
... the economy." Bullock recognised that high inflation is causing a strain on people's real incomes, leading to weak household consumption and dwelling investments. She further explained that maintaining the current cash rate is necessary to evaluate ...

Allianz Retire+ heavyweight jumps ship

ELIZABETH FRY  |  FRIDAY, 17 NOV 2023
... already available on government systems." Thornton said once that hurdle is cleared, the cost of providing sensible household-level advice will drop. And financial advice will be much more available, enabling retirement products and services to be offered ...

Aussie banks deliver record profits in FY23

CASSANDRA BALDINI  |  TUESDAY, 14 NOV 2023
Australia's major banks have achieved skyrocketing returns of $32.5 billion, up 14% from last year, driven by loan growth, margin expansion and the continued decline in notables. This year, profits exceeded the previous record set in 2017 at $31.2 ...

Base rate lifts to 4.35%

KARREN VERGARA  |  WEDNESDAY, 8 NOV 2023
The Reserve Bank of Australia (RBA) hiked the cash rate to 4.35% as it continues to grapple with subduing inflation. RBA governor Michele Bullock yesterday pushed up the base rate by another 25 basis points, saying that while inflation in Australia ...

RBA's multi-channel approach curbs inflation

ANDREW MCKEAN  |  THURSDAY, 12 OCT 2023
... note, the RBA estimates suggest that the 4% hike in the cash rate target since May 2022 is projected to diminish overall household spending by approximately 0.4% - 0.8% annually, attributed primarily to the cash-flow channel. However, interest rate changes ...

How will the Israel-Hamas conflict impact Australia?

CASSANDRA BALDINI  |  TUESDAY, 10 OCT 2023
... economy," he said. "One is clearly that it increases prices and inflation rises, but the other is it effectively attacks the household sector, so people need to pay more for fuel and therefore it reduces their discretionary spending. That can mean the ...

Australia vulnerable to further shocks: RBA

CASSANDRA BALDINI  |  MONDAY, 9 OCT 2023
Australian businesses and households are vulnerable to further shocks following high inflation and the tightening of monetary policy. According to the Reserve Bank of Australia's (RBA) most recent Financial Stability Review, the Australian business ...