Category: Australian economy
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Price hikes, tumbling inflation, excessive probability of recession: How our forecasting panel sees 2023-24
Of the 27 main economists assembled by The Dialog to forecast the monetary yr that has simply begun, each one expects inflation to proceed to fall. The official quarterly measure of inflation peaked at 7.8 per cent within the yr to December and is now 7 per cent, and the newer month-to-month measure peaked at…
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Auditors savage ‘not efficient’ work in Treasury black financial system crackdown
The federal Treasury has come underneath hearth for its position in a $921 million crackdown on the black financial system, with a scathing audit workplace report exposing a litany of primary governance failures. In findings launched this week, the Australian Nationwide Audit Workplace (ANAO) savaged the Treasury over a 2018 plan to claw again billions…
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Financial system slows to a crawl as customers reduce spending
Australia’s economic system is slowing quickly as households slash spending and raid financial savings to beat the cost-of-living disaster, in accordance with new development knowledge that would depart the RBA “nervous”. Official figures revealed on Wednesday revealed the nation suffered a torrid begin to 2023, with gross home product (GDP) rising simply 0.2 – the…