The Reserve Bank of Australia has held the cash rate at 4.1 per cent for a fourth consecutive month, in a widely expected move which marks its first under new leadership.
Acting Treasurer Katy Gallagher has called on the states and territories to better "phase" their massive infrastructure projects, but stopped short of labelling them inflationary.
The Reserve Bank of Australia has offered mortgage holders some relief after it held the nation’s cash rate target at 4.1 per cent following its July meeting today.
The nation's central bank has reacted to concerns about the pace of interest rate rises with a softer-than-expected decision, lifting the official cash rate 25 basis points to be 2.6 per cent.
A faster-than-expected fall in iron ore prices, which are half their peak levels, has led to a big sell-off of mining stocks and raised doubts about the government's budget outlook.
Reserve Bank officials have left the cash rate unchanged at a record low 0.25 per cent, allowing Treasurer Josh Frydenberg's federal budget to have the economic limelight.
Property market analyst CoreLogic has reported that Perth's housing values dropped again in July, with both CoreLogic and AMP Capital expecting prices to continue falling amid COVID uncertainty.
The Reserve Bank of Australia has chosen to keep interest rates unchanged today at 0.25 per cent, despite news of over 1 million job losses nationwide and a 48.5 per cent drop in car sales.
The value of Perth's houses increased 0.5 per cent in the month of March, strengthening the recovery underway for the past six months, but the onset of COVID-19 means the recent gains are unlikely to continue.
Australia's trade surplus widened to $5.8 billion in November, with the 42 per cent increase fuelled by higher mining exports and a likely weakening of domestic demand.
The median price of a house in Perth decreased by 0.5 per cent for August, recording the largest fall of all state capitals, according to the latest CoreLogic data.
Australian bond yields suffered their biggest one day fall in more than three years, hitting fresh all-time lows as investors flocked to them on US President Donald Trump's threat to impose higher tariffs on China.
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.
CoreLogic has revealed a decline in Perth house prices for November, which is at odds with the Real Estate Institute of Western Australia's data suggesting prices increased last month.
Wages growth in Western Australia is lagging the country, with ABS data showing the state's wages increased just 1.6 per cent year on year, compared with a national increase of 2.3 per cent.
Perth house prices have fallen for a fourth straight month, after registering a 0.6 per cent decline in August, according to the latest data from CoreLogic.
Department store sales helped retail spending rebound sharply in February, but economists aren't getting carried away by the surprisingly strong result.
Retail spending has slowed for a second consecutive month, official figures have shown, as consumers tighten their purse strings amid low wages growth.
Unemployment in Western Australia increased slightly last month, with the jobless rate ticking up by 0.1 percentage point while the national rate remained unchanged.
Western Australia's unemployment rate fell 0.3 points, to 6.3 per cent, in seasonally adjusted terms in December, as 8,000 people took on new employment.
Home building approvals have suffered their biggest slide in three and a half years in November, with Western Australia's residential construction sector expected to take a hit over 2016.
Retail spending in Western Australia has hit its highest level on record, in seasonally adjusted terms, with September expenditure more than $2.8 billion; yet growth is well down from the heights of the boom.
