AAP

Premier and Treasurer Mark McGowan is expected to reveal a healthy surplus and spending to fight inflation in the WA budget.

Australian shares finished lower ahead of US inflation data announcements, with hopes the Federal Reserve will resist rate hikes in the coming months.

The federal budget has been broadly welcomed by the business community but some worry it doesn't go far enough to boost productivity and investment.

Jim Chalmers says his budget won't fan inflation and lead to more interest rate rises but some leading economic experts are not convinced.

Local shares have finished lower ahead of the federal budget but market analysts say it is typical for the May trading period.

Key crossbenchers say the government should go further with its changes to the Petroleum Rent Resource Tax to get better value for taxpayers.

Households struggling with the cost of living will get some support in the federal budget but the threat of inflation will keep handouts contained.

The local share market has bounced back from its third weekly decline, bolstered by gains in the energy, materials and financial sectors.

Westpac is raising its dividend 15 per cent to 70c per share as CEO Peter King says it has become a "simpler, stronger bank".

The local share market is standing up on its own despite concerns resurfacing over regional banking issues in the United States.

The RBA expects growth to ease by more than earlier predictions as cost of living pressures and higher interest rates weigh on disposable incomes.

The federal budget will fund a national authority to manage the job losses and opportunities in switching from coal-fired power to widespread renewable energy.

Australia's third-largest bank has delivered a strong performance for the six months to March but warned of a difficult six months ahead.

The local share market has managed to climb back from its morning losses induced by the overseas Federal Reserve rate hike overnight.

Shares in NAB were sold-off this morning after the bank reported a higher profit but failed to meet market expectations.

The local share market has finished 1.0 per cent lower, its second sharp selloff in a row following the Reserve Bank's surprise rate hike.

The government is allocating $1 billion toward developing quantum computing to put Australia at the forefront of the emerging technology.

Jim Chalmers says the high inflation environment is the main challenge facing the economy and his budget will reflect these price pressures.

Local shares collectively fell 0.9 per cent after the Reserve Bank surprised the market with another rate hike.

A multi-million-dollar upgrade of Perth's water infrastructure is part of a plan to increase the amount of high-density home development.

Young workers are set to receive about $6000 extra in their superannuation balance on retirement after changes to how their payments are made.

Outright home owners have welcomed the turnaround in the property market but the prospect of more rate rises has mortgage holders worried.

The local share market has climbed 0.3 per cent ahead of a crucial week of central bank meetings in Australia, the United States and Europe.

More than 40 organisations have signed a letter to the treasurer demanding more investment in social and affordable housing in the upcoming budget.

State and territory leaders have agreed on changes to health systems, the NDIS and other areas at the latest national cabinet meeting.

The ASX200 closed 0.2 per cent higher after a tech-led rally on Wall Street, in the market's first finish in the green since April 19.

The federal government is putting aside $3.4 billion to accelerate research in areas such as hypersonics, quantum technologies and drones.

The local share market has closed down 0.3 per cent in its fifth consecutive losing day as questions about banks and growth sour sentiment.

Cost-of-living rises might have turned a corner, but increasing prices are still wreaking havoc on Australian households and businesses.

The local share market has clawed back most of its early losses to finish down just 0.1 per cent on hopes that moderating inflation might keep rates on hold.

Business leaders are becoming less worried about hiring and keeping workers as some wiggle room starts to appear in the labour market.

Consumers are still down in the dumps although fresh inflation data is expected to point to easing cost-of-living pressures.