Business

The Economy

Malcolm Turnbull: "If we don't sell [coal] to [India], someone else will.''

Labor-lite budget ticks all the boxes for Turnbull

For students of the politics of economics – my special subject – this clothes-pinching budget has been a feast. Oh no, it's "Labor-lite". Shocking! Actually, it's a budget that ticks all the boxes for Malcolm Turnbull and, by extension, his parliamentary followers – something their silent acquiescence suggests they realise.

Workers' average pay rises fail to keep up with the rising cost of living.

Australian wages stall at all-time low

Total hourly rates of pay, excluding bonuses, rose by 0.5 per cent in the March quarter, the latest ABS figures show, matching market expectations.

Reserve Bank of Australia governor Philip Lowe has warned of rising house prices.

RBA's broken record means no rate moves

The Reserve Bank of Australia thinks the economy is on track for solid growth, but the central bank's optimism has been met with a note of caution from some economists.