AAP

The local share market closed higher for its fifth straight session, rising 1.1 per cent for its best day since April 11, to finish the week up 1.8 per cent.

A $100 million fund will be set aside for the nation's local councils in a bid to make key community facilities more energy efficient.

The local share market has finished up 0.2 per cent, while the Australian dollar is trading more than 68 US cents for the first time since February.

Trade Minister Don Farrell says there's been some movement on the main impediments to Australia's free trade deal with the European Union.

The local market finished up 0.3 per cent as moderating US inflation diminished the chance of a Fed rate this week, but CSL was serving as a major drag.

Some 1200 staff of the Reserve Bank have been underpaid more than $1 million due to an error calculating payments for leave entitlements.

State governments are leading the way for Australian green bonds with the latest issuance to fund an electric car charging network, wind farms and rebates.

The local share market has finished up 0.2 per cent ahead of a busy week of risk events headlined by the Federal Reserve meeting.

Australia will need to break new ground in order for the economy to not go backwards amid high inflation, the prime minister will say in a major speech.

Global markets are eagerly awaiting what the US central bank decides to do on rates when it meets this week, with some economists predicting a rise.

US stocks have closed higher as investors wait for inflation data and a decision from the country's central bank.

The local share market has finished up 0.3 per cent for the day as hopes grew for a pause in US rate hikes, but closed the week down 0.3 per cent.

Judo Bank's chief risk officer says higher interest rates will create hardship for small and mid-sized businesses in the consumer discretionary space.

The ASX200 has closed down 0.26 per cent following a surprise overnight rate hike from the Bank of Canada that emphasised how far rates might rise.

Australia has recorded two consecutive quarters of declining retail turnover in real terms but the migration boom is expected to underpin a recovery.

The local share market has closed down 0.2 per cent following the Tuesday's rate hike and underwhelming gross domestic product figures.

Australia's economic performance is starting to wane, with the economy growing by 0.2 per cent in the March quarter, down from 0.6 per cent.

A Senate inquiry will explore the interaction of consultants and government departments at a public hearing, as the PwC tax advice scandal continues.

The local bourse has fallen 1.2 per cent, with every sector in the red except utilities after the Reserve Bank hiked interest rates once again.

Consumer confidence has not budged from its weak position, although mortgage holders have regained some optimism ahead of the next cash rate decision.

The local share market finished the day 0.5 per cent higher, although it closed the week down 0.1 per cent.

Millions of low paid workers will enjoy a 5.75 per cent pay boost that will still fall shy of the rising cost of living.

A Senate budget estimates hearing in Canberra has been told $25 million in contracts with PwC are being examined for any conflicts of interest and risks.

The local share market has moved into positive territory, closing up 0.3 per cent on progress in Washington towards a deal to avoid a US default.

A fall in financial commitments for large-scale renewable generation projects could pull the plug on 2030 targets but state governments aim to fill the gap.

Some university degrees may take more than 40 years to repay according to new modelling, sentencing many graduates to a lifetime of student loan debt.

The local share market has suffered its worst day of losses in 12 weeks, falling 1.6 per cent to close at its lowest level in two months.

Reserve Bank governor Philip Lowe has used a public appearance to explain that low productivity growth, not wages, is threatening the outlook for inflation.

Shares on the ASX have finished down 0.1 per cent, with small gains for the major miners and mostly modest losses for the big banks.

The head of Treasury has told a Senate estimates hearing he cannot comment in detail on action being taken against PwC because it may impact on a police probe.

The local share market has had its best day since April 11, climbing 0.9 per cent on a possible resolution to the US debt ceiling drama.

Rental demand is fast outrunning supply and low-income households are bearing the brunt of the rental affordability crisis, analysis shows.