The Australia Institute’s Chief Economist Greg Jericho has slammed the Reserve Bank of Australia’s (RBA) decision to raise interest rates again, arguing there is no data to justify increasing them to the highest level seen in 15 years.
Greg Jericho, Chief Economist at the Australia Institute, annotates the RBA’s latest statement, breaking down what the central bank is really telling us.
At 2:30pm, the Reserve Bank is almost certain to raise the cash rate to 4.6%, the highest it has been since November 2011 when the RBA cut the cash rate from 4.7% to 4.5%. It will be the act of a central bank hostage to old thinking and an inability to react to supply shocks.
Quality research, analysis, explainers and factchecks from experts you can trust.
A member of the Reserve Bank of Australia (RBA)’s Monetary Policy Board, which sets key interest rates, says that wages are not a major factor in price increases in Australia. In a speech to the University of Melbourne’s Centre for Employment and Labour Relations Law, Dr Iain Ross AO said there is “no evidence of the emergence of a wage-price spiral” in the Australian economy.
Sydney Water will seek expert advice on whether data centres could release “forever chemicals” into the wastewater system after the possibility was raised at a Senate inquiry. The scrutiny comes as Swedish nonprofit ChemSec reported earlier in September that most of the world’s top 10 PFAS producers are planning to expand production, with some framing their investments around the “AI revolution”.
At a Senate inquiry into AI and data centres, Senator Sarah Henderson challenged property giant Goodman Group over its proposed Lane Cove facility, which residents said would be around 16 metres from a neighbour’s property line.
Big corporations could continue to treat Australia’s oceans as a “dumping ground” for old equipment and leave taxpayers out of pocket unless the Albanese government closes a loophole, a Greens senator has warned.
Three Greens Senators have crossed the floor to support a disallowance motion which would stop a new method to increase the supply of carbon credits. It comes after Greens Leader Senator Larissa Waters said her party would vote with the government this afternoon to allow the method.
‘AI hallucinations’ contained in a document used by Tasmania’s parole board have helped overturn a media ban on Sue Neill-Fraser, the woman found guilty of killing her partner onboard a yacht.
It isn’t always easy to keep up with what’s happening in the US. “Shorter America” is a series where Dr Emma Shortis loops you in on what’s going on in America and shares news and analysis that you can trust.
Triple R station manager Dave Houchin on 50 years of Triple R, the power of volunteers and why community radio remains vital in the age of social media and streaming platforms.
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The Australian Electoral Commission (AEC) has been urged to rethink plans that could shut or merge about one third of its divisional offices, with a union warning the loss of local expertise could disrupt future elections.
New South Wales planning officials allegedly bypassed consultation with key agencies over a proposed data centre and gas-fired power station after the developer threatened legal action, a Senate inquiry has heard.
On Tuesday, Bob Brown told ABC’s 730 that the NSW Government’s plan to make the creation of the Great Koala National Park dependent on being able to sell carbon credits “a scam”. And Bob Brown is right, these credits do not represent actual carbon abatement.
Seventeen thousand people voluntarily pay for a Melbourne radio station they could listen to for free. At a time when traditional media is shrinking and Big Tech algorithms increasingly decide what information audiences see, Melbourne radio station Triple R is showing there’s still strong demand for local, independent media.
