Inflation for the first quarter of 2019 came in at 0.0 per cent. Zero. Nada. It's time for the Reserve Bank to act, writes Richard Holden.
Prices didn't go up over the first three months of the year. On the face of it, this sounds great for consumers, but the economic reality is that it's better for the wealthy than the workers.
Lenders are slashing fixed home loan interest rates in anticipation of Reserve Bank rate cuts later this year, but fewer customers are taking up the offers.
Another 25,700 new jobs, mainly full-time, was not enough to stop the unemployment rate rising as more people looked for work.
The Australian dollar has fallen after the latest Reserve Bank minutes revealed board members think a rate cut could be "appropriate" if unemployment rises and inflation remains weak.
The RBA seems to be getting a bit twitchy about the tension between strong employment and low wage growth. The next couple of months are crucial about whether interest rates are going up or down.
The Reserve Bank says if housing prices continue to fall heavily borrowers could hit "negative equity", where the amount owing on their mortgages is higher than the value of their property.
The Australian big four banks dominate the New Zealand market and will have to comply with increased capital requirements, which UBS analysts warn will have a bigger impact than they first thought.
Western Australia's biggest grain farmer has sold 200,000 hectares of land to the Saudi Agricultural and Livestock Investment Company.
The scrutiny on borrowing is the toughest it's been, with banks and credit unions putting the daily spending habits of potential customers under the microscope — including things like your food deliveries and Afterpay purchases.