A freeze on household bills, a slight rise of the payroll tax threshold and small businesses grants will form part of a $607 million state government stimulus package, while the Commonwealth and the Reserve Bank are considering further steps.
The Reserve Bank of Australia has pumped extra liquidity into the banking system, part of a package of measures aimed at ensuring business and households have access to credit as the coronavirus causes chaos in global financial markets.
The Reserve Bank of Australia has cut the cash rate to a new record low of 0.5 per cent as it acts to soften the economic impact of the coronavirus, with Australia's "big four" banks each announcing they would pass on the rate cut in full.
The Reserve Bank has kept its word and left its growth forecast unchanged through to the end of the year, while continuing to insist the GDP hit from bushfires, drought and coronavirus outbreak will be short-lived.
New vehicle sales in Western Australia fell 2 per cent last month and 5.4 per cent during 2019, with national sales crashing to their lowest since 2011.
Reserve Bank of Australia governor Philip Lowe has called out Australia's major banks for consistently charging customers more for international money transfers than their non-bank rivals.
Moves by the Reserve Bank to buy private assets or government bonds, known as quantitative easing, are unlikely in the near future, according to governor Philip Lowe.
Australia's GDP showed only a slight expansion in the last three months, while WA's state final demand fell by 0.2 per cent for the quarter - the second weakest performing state.
New figures suggest the Australian economy is still crawling along at a growth rate below two per cent, but Reserve Bank governor Philip Lowe has made it clear that negative interest rates are "extraordinarily unlikely" in response.
The Reserve Bank of Australia board acknowledged there was a compelling case for cutting the cash rate to a new record low before leaving it unchanged at 0.75 per cent at this month's meeting.
Annual inflation inched higher to 1.7 per cent in the September quarter amid signs the lower Australian dollar is helping offset the impact of soft consumer demand.
Afterpay Touch has described itself as a "marketing channel" whose service goes beyond payment processing after the Reserve Bank of Australia said it would look at whether action is needed to help retailers recover the cost of buy now, pay later services.
The Reserve Bank of Australia has cut the cash rate to a new record low of 0.75 per cent, with the board prepared to go even lower if the nation's economy does not respond.
PODCAST: Mark Beyer and Mark Pownall talk to business leader and company director Mark Barnaba about the economic outlook, the role of central banks and our relationship with China.
Reserve Bank of Australia Governor Philip Lowe believes the nation's economy may have reached a "gentle turning point", paving the way for growth to pick up again next year.
The Australian dollar has hit a 10-year low against the US dollar after New Zealand's central bank cut the country's cash rate by a larger than expected 50 basis points.
The Reserve Bank has held the cash rate at a record low 1.0 per cent amid what governor Philip Lowe called "increased" uncertainty for the global economy.
National Australia Bank and ANZ Banking Group have both cut their savings rates again in the wake of the Reserve Bank of Australia's decision to reduce the interest rate to 1.0 per cent.
Australia's monetary expansion during the past decade has been among the most substantial in the developed world, according to recent data, with the Reserve Bank today continuing an easing policy.
The Reserve Bank of Australia has cut the cash rate to a fresh record low of 1.0 per cent, reducing the cost of borrowing for two months in a row for the first time since 2012.
The Australian dollar gold price has passed $2,000 an ounce for the first time, according to The Perth Mint, with five WA-linked goldminers putting on a combined $1.3 billion of value in today's trading.
The Reserve Bank of Australia has cut the cash rate to 1.25 per cent, a day after CoreLogic data revealed Perth house prices continue to fall more sharply than other state capitals.
Consumer confidence increased over the weekend amid talk of a cut to interest rates while inflation expectations fell, an ANZ Banking Group analyst says.
The Reserve Bank of Australia looks likely to cut the cash rate in June after Governor Philip Lowe said board members would discuss the move at their next monthly meeting.
The Reserve Bank of Australia has resisted temptation to cut the cash rate from its record low 1.5 per cent, but a move could still be on the horizon after it flagged concerns at the pace at which unemployment is falling.
OPINION: Muffled by the drumbeat of election campaigning as Australia heads towards its May 18 poll is a more sinister noise, demands for a big cut in interest rates, or the dumping of “helicopter” cash on the community – or both.
The Reserve Bank of Australia has kept the official cash rate at a record low of 1.5 per cent as widely expected, but most economists believe a rate cut is around the corner.
OPINION: Australia may have avoided a recession for more than a quarter of a century, but with a whiff of panic wafting off the Sydney property market and the Reserve Bank tipped to cut interest rates, there is growing concern that something nasty is about to bite.
The Reserve Bank of Australia's stance on rates may be getting a little less neutral after Australian economic growth fell well short of the central bank's own downgraded forecast.
The Reserve Bank has kept the official cash rate at a record low of 1.5 per cent despite noting Australian economic growth probably slowed in the second half of 2018.
Western Australia's unemployment rate has spiked to a 17-year high, at 6.8 per cent in seasonally adjusted terms, while the national numbers held steady.
There will be a big reduction in the Reserve Bank of Australia's official cash rate in the next year or two, according to investment analysis Jonathan Pain.
