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Driving down inflation is key to easing household pressure: CSSA
Catholic Social Services Australia acknowledged the Reserve Bank’s decision yesterday to lift the cash rate, recognising the financial strain this places on many Australians, particularly mortgage holders.
Rate rise expected as Treasurer defends government’s budget management
Treasurer Jim Chalmers has defended the Albanese Government’s track record on inflation on the eve of an anticipated rate hike that would push interest rates to their highest level in 15 years. Source: ABC News.
How Catholic agencies can deal with ‘top-five megatrends’
Catholic agency leaders are being urged to face a world of “brutal realities” with clear purpose, disciplined leadership and hope. Source: Melbourne Catholic.
Rate hike fear grows as nation adds 76,000 jobs in June
Expectations of an interest rate rise have jumped after new figures show the country added more than 76,000 jobs through June even though signs grew that the overall employment market is weakening. Source: Sydney Morning Herald.
Discussions on housing inequity must include age and wealth: ACOSS
The federal government must consider age and wealth together to meaningfully address the growing wealth divide between generations, says the Australian Council of Social Service (ACOSS). Source: ABC News.
Reserve Bank Governor warns of more rate hikes
The Reserve Bank Governor has said surging oil prices in the wake of the United States-Israel war on Iran have made Australians poorer with “no way out”, after handing down an interest rate rise and warning more hikes could be needed. Source: The Guardian.
Grim warning for workers with inflation set to hit a three-year high
Inflation is set to reach a three-year high, with warnings that the Australian economy could be in the grip of stagflation, driving more than 100,000 people out of work within months. Source: The Age.
IMF warns Chalmers against budget spending spree
Treasurer Jim Chalmers is being warned not to use the budget to deliver cost-of-living handouts to address inflation fuelled by the war in Iran, with the International Monetary Fund fearful the world could be pushed into a recession if hostilities do not end soon. Source: The Age.
Wages drop to blame for growth in poverty: research
A new research report into Australia’s national minimum wage has found the poverty line has had the largest increase in a decade. Source: ACU.