The government has handed down its budget for 2024–25. It’s delivered a $9.3 billion surplus for the financial year just about to finish but is forecasting a $28.3 billion deficit for next year. Here’s the key points:
Read more: Chalmers is bitten by the giveaway bug in a budget that contains good news for almost everyone
China's central bank surprised markets for a second time this week by conducting an unscheduled lending operation on Thursday at steeply lower rates, suggesting authorities are trying to provide heavier monetary stimulus to prop up the economy. The medium-term lending facility (MLF) operation comes after the central bank cut several benchmark lending rates on Monday, just days after a top leadership meeting, which had outlined other major reforms. The People's Bank of China (PBOC) issued 200 billion yuan ($27.5 billion) in one-year loans under its MLF at 2.30%, down 20 basis points from its previous MLF loan, the bank said in a statement.
The Prime Minister has said the threat of further strikes is an important consideration in responding to the review bodies’ recommendations.
(Bloomberg) -- Wall Street is already starting to game plan for the US government’s next debt-ceiling standoff, looking ahead to the Treasury’s estimated cash balance for clues on how much bill supply will be coming down the pipeline.Most Read from BloombergTrump Risks Losing Voters He Needs With Loaded Attacks on HarrisParis Sticks to Olympics Opening Event Plans After Rail SabotageFed’s Favored Price Gauge Rises at Mild Pace, Spending Holds UpHarris Just Showed Why Trump Is So Afraid of HerThe
(Bloomberg) -- The People’s Bank of China unexpectedly lowered the cost of its one-year policy loans by the most since April 2020, acting days after cutting a key short-term rate in a sign of greater support for the slowing economy.Most Read from BloombergHarris Just Showed Why Trump Is So Afraid of HerI Changed My Mind. The Fed Needs to Cut Rates Now.What Initial Polling Data Show About the Trump-Harris MatchupHarris Targets Trump by Raising Threat of ‘Extreme’ Project 2025Stocks Extend Losses
But the Institute for Fiscal Studies said the spending crisis was ‘predictable and predicted’
The Fed’s preferred inflation gauge had its slowest annual increase in more than three years, likely getting policy makers closer to the conviction needed to ease monetary policy.
Anthony Albanese says a respected forecaster’s latest report pointing to a ‘fork in the road’ moment for the economy has endorsed his government’s policies.
TOKYO (Reuters) -Core inflation in Japan's capital accelerated for a third straight month in July but an index gauging demand-driven price growth slowed, data showed on Friday, complicating the central bank's decision on how soon to raise interest rates. The data comes ahead of the Bank of Japan's two-day policy meeting that ends on Wednesday, when its board will debate whether to raise interest rates and lay out details on how it plans to taper its huge bond purchases. The Tokyo core consumer price index (CPI), which excludes volatile fresh food costs, rose 2.2% in July from a year earlier, matching a median market forecast and accelerating slightly from a 2.1% gain in June.
A man accused of a series of sexual assaults on his wedding night and honeymoon has been found not guilty on all charges in a Sydney court.
"Something about the question mark after 'old and quite weird' is taking me out."
The former president put debate plans on pause, and critics are calling him out over it.
Hundreds of Aussie tourists are being denied entry into Indonesia’s island paradise for one reason.
It marks a brutal reality for Australia's most decorated Olympian. Read more here.
The judge who found Donald Trump liable for fraud and ordered the former president to pay $454 million said he will not recuse himself from the case.
Don't show this post to JD Vance.
BGT judge Amanda Holden looked flawless as she holidayed with her mini-me daughters Lexi and Hollie. Take a look inside their lavish Greek getaway…
FBI director Christopher Wray said investigators did not know whether Trump’s ear was grazed by a bullet or shrapnel
The Sharks are trying to dispel the claims around Nicho Hynes and the team. Find out more here.
‘As a very tall and big man, I have had this happen more than a few times,’ one commenter related to the Reddit post
The ex-White House communications director explained why Vance is "hurting" the former president.
