The Reserve Bank of Australia’s (RBA) latest forecasts, contained in the February Statement of Monetary Policy (SoMP), show that real gross domestic product (GDP) is expected to grow by just 1.6% in the year to June 2028. This is the central bank’s lowest medium-term growth outlook since it began releasing forecasts in 1990. Stephen Smith
Australia is currently receiving a large inflow of New Zealanders. New Zealand citizens are permitted to migrate to Australia using the Special Category visa (subclass 444), which allows them to live, work, and study there without needing to apply for a visa before arrival. New Zealand citizens with a valid New Zealand passport are automatically
The world’s most unpleasant nation, and the Albanese government’s best friend, has once again bared its fangs, not to mention its glass jaw. China’s largest steel maker has accused Australian rival InfraBuild of making baseless and self-serving claims to convince the Albanese government that substantial tariffs are needed on imported construction products. In attacking InfraBuild,
In late December, Melburnians were warned that they could soon face severe water restrictions following the steepest annual decline in water storage levels since the Millennium Drought. Melbourne’s water storages dropped from 86% to 75.1% in a single year—a fall of 239 billion litres—and authorities urged conservation measures and planning for new water sources, such
The ostensible problem with East Coast gas supply is that it has no competition. The real problem is that energy policymaking has no competition, so there is nobody to hold Albo’s energy butchers to account. Albo’s half-baked idea for gas reservation is so nebulous that states and regulators are now in crisis, trying to figure
Leading independent economist Gerard Minack published the following chart illustrating the primary driver of Australia’s rental crisis: excessive population growth via immigration: After Australia’s international border was reopened in late 2021, net overseas migration surged, with just under 1.5 million net migrants arriving between Q4 2021 and Q2 2025. As a result, rental demand surged
The ABS released the December monthly spending indicator yesterday, and it came in weak at -0.4%. The quarterly rate was still high at 2.2%, and the annual rate was likewise 5%. Volumes were 0.9% for the quarter, so a solid contributor to GDP. The ABS attributed the downdraft to pull-forward from earlier sales, such as
I absolutely stand by the right of Australians to protest. But why do it about Palestine? Australian of the Year Grace Tame condemned Herzog’s visit, earlier telling the crowd Australia was “a so-called democracy that punishes peaceful protesters like us, but welcomes a war criminal with open arms”. “A man … who said, and I
A few more days of this, and we’ll be getting rate cuts, not hikes. DXY cratered overnight as a new government shutdown, this time over ICE constraints, looms. The Australian dollar went berserk with CNY and JPY relief post-election. Oil and gold did not waste the day. AI mentals were a little less hysterical. Gapping
With the release of the latest Newspoll, One Nation’s rise in the world of Australian federal politics has been emphatically confirmed, putting to bed any ideas that this was a temporary boost due to polling seasonality or the immediate aftermath of the Bondi terrorist attack. According to Newspoll, One Nation is now polling a primary