Australian Economy

There are some perverse things happening in bond yields.

The Conversation’s Peter Martin has published an interesting article explaining why the Reserve Bank of Australia (RBA) will be reluctant to lift interest rates, despite soaring inflation.

Surging inflation expectations has seen the weekly ANZ Roy Morgan consumer confidence index plunge further into pessimistic territory, down 4.8% last week to its lowest level since October 2020 (during Victoria’s initial 14-week lockdown): Key points are as follows: Confidence fell across all states and territories.

The Australian Treasury is preparing a review of the Reserve Bank of Australia (RBA), examining how the Bank’s first independent examination will proceed.

In 2019, law firm Maurice Blackburn Lawyers lodged a complaint with the Fair Work Ombudsman on behalf of hospitality union Hospo Voice, accusing high-end restaurant chain Rockpool of “egregious” wage theft.

Arguably the biggest benefit of the working from home (WFH) phenomenon is that it eliminates the need for time consuming and costly commutes.

Unions covering workers in sectors such as public hospitals, construction and hospitality are looking at wage claims of between 5% and 6%, with their members no longer happy with 3% pay rises.

The best of the Aitken boys with good stuff today: The conflict-induced energy shock and a reshaping of a global geopolitical world order would benefit Australia, if the nation can effectively navigate the energy transition.

NSW recorded 20,050 new COVID cases over the past 24 hours, alongside six deaths: Victoria recorded 9,036 new COVID cases and nine deaths: Daily cases are plotted below since the beginning of the Delta wave last winter.

Economists have urged the federal government to ensure that any Budget measures aimed at easing cost-of-living pressures are directed to people who are the most vulnerable.

NSW has recorded 20,087 new COVID cases over the past 24 hours alongside five deaths: Victoria has recorded 9,752 new COVID cases and seven deaths: Daily cases are plotted below since the beginning of the Delta waves last year.

Roy Morgan has released its business confidence survey for February, which surged 19 points to 120.5 as the Omicron wave receded: In February 2022 Roy Morgan Business Confidence jumped by 19pts (+18.7%) to 120.5.

Westpac with the note.