Rate cuts could be needed to fight low inflation: RBA
New Reserve Bank governor Philip Lowe has held out hope of further interest rate cuts, saying he needs to guard against inflation expectations falling too far.
Peter Martin is the Economics Editor for The Age.
New Reserve Bank governor Philip Lowe has held out hope of further interest rate cuts, saying he needs to guard against inflation expectations falling too far.
'Noodle bowl' of agreements is difficult for business to navigate
A decade ago in the leadup to the global financial crisis the Bureau of Statistics dimmed the lights. It suspended its job vacancies survey and slashed its employment survey by a quarter.
Six months ago the business-backed Committee for the Economic Development of Australia presented the Turnbull government with what it said was a clear and practical plan to return the budget to surplus. There were 5 of them in fact, including different mixes of proposals such as better taxing superannuation contributions, halving the tax discount for capital gains, ending negative gearing, boosting taxes on luxury cars, alcohol and tobacco, and taxing the private health insurance rebate.
Prime minister Malcolm Turnbull's most senior advisor has lashed out at Australian managers, saying they are failing to pursue opportunities and holding back national income.
Male mining engineers, school principals, surgeons and anaesthetists will be the biggest beneficiaries of the high-end tax cut currently before the Senate, with men more than twice as likely to benefit as women.
The Australian Bureau of Statistics has blamed the media for the failure of its census hotline and blamed an overseas denial of service attack for the failure of its census website in a strongly worded submission to a Senate inquiry that also attempts to deflect blame for the overwhelming of its website on its contractor IBM.
Incoming Reserve Bank chief Philip Lowe has appealed to the Turnbull government to help him out with economic management by borrowing big for infrastructure, saying there's only so much further cuts in interest rates can do.
The Turnbull government is considering a radical shakeup of Australia's superannuation system that would pit banks and industry funds against each other for the right to manage the deposits of every new entrant for at least two years.
Limiting the amount anyone could contribute out of their own money into tax-advantaged super on top of employer contributions was never retrospective, but those who thought it was can relax. The government is imposing a limit by another means.
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