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Commonwealth Bank raises its mortgage rate on top of the RBA’s interest rate hike. Meanwhile the inflation index for Australia is picking up. And Joe Hockey appears to be on a winner with his plans to control the banks: he and the Government are now in a game of one upmanship to bring the banks into line. Leon and Garry discuss all these headlines and more in this news podcast.
In this podcast, RMIT Economist Alberto Posso talks about misleading inflation figures and job market data. While the consumer price index is slightly up, utility prices have jumped and may hurt working families without some short-term government intervention.
RMIT economist Jonathan Boymal talks about the low wage price increases and cost of living increases.
RMIT economist Sinclair Davidson says the Federal government has dodged a bullet with inflation. He says we are now looking at 4.5% unemployment and praises the Federal Government and coalition now bidding to lower corporate taxes.
In this week’s podcast, Leon and Garry talk about the latest inflation figures coming in lower than expected and suggesting there will be no pre-election rate rise. Similarly, the cost of materials to business has grown at a modest pace, less than economists expected so inflation seems to be under control for now.
It's been a heavy news week. Talking Business is a podcast review of the Australian economy, presented by seasoned business journalists Leon Gettler and Garry Barker, produced in association with the RMIT College of Business. Just press play to listen.
Leon and Garry look at how the RBA has cleared the way for an August election by keeping rates on hold at 4.5%. Inflation is building a head of steam with the latest jobs figures showing unemployment now at 5.1% and the ANZ jobs series showing more companies are hiring.