Get the appTom Offermann agents sold two of three properties offered at auction on the weekend, despite heavy rain across South East Queensland. Erica Newton sold a Noosaville penthouse to a local buyer. The week before, she sold a Sunrise Beach house, the legacy of Kenneth and Wendy Heinze, for $3.6m, with proceeds going to four charities. The Real Estate Institute of Queensland says 48 of 50 tracked regions were in the tight rental range of 0 to 2.5 percent in the September quarter.
Opposition spending cuts would save $31 billion over four years, according to a partial costings update released by the Coalition. The package, costed by the Parliamentary Budget Office, targets climate initiatives, housing schemes and welfare for permanent residents. Opposition Leader Angus Taylor described the savings as a down payment for tax cuts. The update leaves out the cost of migration cuts and the scrapping of Labor's tax changes. Treasurer Jim Chalmers rejected claims that government spending is driving inflation, ahead of a Reserve Bank meeting next week.
The Coalition says it would pay for its proposed income tax cuts by scrapping $31bn worth of Labor policies. Opposition Leader Angus Taylor released costings for the Tax Back Guarantee, which ties income tax brackets to inflation. Typical workers would receive $250 in the first year, rising to $1,000 in the fourth year. The plan targets climate programs, including the Net Zero Economy Agency and electric vehicle concessions, and Build to Rent tax breaks.
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Get the appGlobal shares edged up on Monday as oil prices eased from six-month highs, ahead of a week of central bank meetings and corporate earnings. Oil fell about two per cent to $US114.60 after reports that Qatari mediators were in Tehran in an effort to ease tensions. The Houthi group in Yemen said it had attacked Saudi Arabia's East-West crude oil pumping stations and Riyadh airport, though Riyadh did not immediately confirm this. Markets expect the US Federal Reserve to hold rates steady this month but price in a likely rate rise in December.
US share markets closed lower on Friday, with the Dow Jones Industrial Average falling 1.25 per cent to 52,209.16 points. Technology shares steadied to end a turbulent week for the AI trade. Investors are looking ahead to a busy run of company results, including from Alphabet, Microsoft and Amazon, whose spending plans will be closely watched. Oil prices rose after Houthi attacks in Saudi Arabia raised concern about energy supplies. The Federal Reserve is expected to keep interest rates steady on Wednesday, with investors watching for hints about a possible rate rise in December.
Economists at Citi expect underlying inflation to rise about one per cent in the September quarter, above the Reserve Bank's August forecast. They say the data may matter less than comments from deputy governor Andrew Hauser, which suggested a rate rise is likely. Market pricing for a November increase rose above 50 per cent after his remarks. NAB still expects the cash rate to hold at 4.6 per cent, forecasting inflation to return to target as fuel cost pressures fade.
Australia's economy grew by 2.3 per cent in the 2025–26 financial year, according to figures released by the Australian Bureau of Statistics. Output per person rose by only 0.8 per cent, which the figures attribute to population growth. Households saved a larger share of their income, with the saving ratio rising to 6.1 per cent from 5.5 per cent. The Consumer Price Index rose 4.0 per cent in the year to August 2026, and unemployment reached 4.7 per cent in September.
Treasurer Jim Chalmers has signalled that officials are downgrading economic forecasts ahead of the December mid-year budget update, pointing to slower growth and higher unemployment. Oil prices have climbed to US$113 a barrel after a broadening Middle East conflict, and petrol has risen by 60 cents a litre since the US and Israel attacked Iran. Westpac analysts have outlined a scenario in which oil could reach US$150. Chalmers has said the government has limited control over these pressures, and that any response to one problem could make another worse.
Treasurer Jim Chalmers has warned of an economic slowdown and rising unemployment. Speaking at a Sydney business forum, he said higher interest rates and inflation were likely to soften growth and push unemployment slightly higher. He linked the pressure to the wars in Ukraine and Iran, which he said were raising global inflation and borrowing costs. Chalmers said private sector activity was now driving growth, while public demand had eased. Financial markets currently put a 62 per cent chance on a rate rise on Melbourne Cup day in November.
Brisbane residents are the most worried about household bills in Australia, according to a new study by appliance brand Electrolux. The city recorded a Worry Score of 78.30 out of 100, well above every other city studied. The news comes as Reserve Bank deputy governor Andrew Hauser said inflation was tracking materially worse than expected, raising the chance of a rate rise on November 3. If the cash rate rises by 25 basis points, it would reach 4.85 per cent, its highest level since 2008.
Treasurer Jim Chalmers has signalled that the December midyear budget update will forecast weaker growth and higher unemployment. Economists warn of a difficult six months ahead. Unemployment reached 4.7% in September, its highest in nearly five years. Chalmers says higher interest rates and inflation are likely to soften growth. Economists also expect the full effect of four rate rises to still be felt, with a further rise possible.
Treasurer Jim Chalmers will tell investors in Sydney that business investment is booming and growing faster than previously expected. Treasury now expects growth above 5 per cent this financial year, which Mr Chalmers says could mean an extra $50 billion. The forecast comes as the Reserve Bank raised the cash rate to 4.60 per cent last month and warned inflation is worse than expected. Unemployment hit 4.7 per cent in September, a five-year high. Shadow Treasurer Tim Wilson blamed government spending for pressure on households.
Reserve Bank of Australia deputy governor Andrew Hauser has warned of a worsening inflation outlook and left open the possibility of another interest rate hike in November. He said the bank faces hard choices, weighing higher inflation against a weaker labour market. Hauser said some businesses now regard inflation of around 3.5% as the new normal, which he called a central banker's nightmare. Third-quarter inflation data, due on October 28, is expected to play a decisive role in the decision. Markets are now pricing in a 51% chance of a November rate hike, up from below 20% last week.
The Reserve Bank of Australia has warned it faces difficult decisions before its November meeting, with a possible rate rise that would be the fifth this year. Deputy Governor Andrew Hauser said the bank must weigh controlling inflation against economic pain for households and businesses. Fault Lake Asset Management founder Christian Bayliss said inflation has averaged 4.5 per cent a year since mid-2021, against a target of 2.5 per cent. He estimated this costs each household about $14,000 a year and said there was an even chance of another rise.
New Zealand's annual inflation rate came in slightly below expectations at 3.7 per cent, down from 4.1 per cent in the year to June. The rate remains above the central bank's target band, and economists expect a further rate rise, with a decision due on October 28. Petrol prices rose 19 per cent over the year to September, and the election is on November 7. Polls show a tight race between the left and right blocs.
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Get the appThe benchmark ASX 200 closed up 0.16 per cent at 8831.30 on Wednesday, after a late rally on a choppy day of trade. Eight of 11 sectors finished higher, led by telecommunications and the major banks. The market had opened higher but fell after Reserve Bank deputy governor Andrew Hauser said inflation was materially worse than expected. Money markets took this as a sign of another rate rise on Melbourne Cup day. NextDC shares dropped 41.72 per cent after it cut its earnings guidance by more than a third.