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Two of Australia's biggest insurance companies have posted bumper profits today as policy holders struggle with the higher cost of living continue to be smashed by surging premiums. Both IAG and QBE acknowledge the consumer pain but IAG boss Nick Hawkins warns warning insurers need to remain highly profitable to pay out claims for increasingly frequent weather events and natural disasters. Reporte...

Rising jobless rate threatens resilient economy as consumers spend up on gyms, cruises and Taylor Swift Caption: Cracks are appearing in Australia's economy with the unemployment job rising to 4.1 percent in January. Economists previously optimistic about resilient jobs market now see greater pressure on the Reserve Bank to cut interest rates. Commonwealth Bank chief economist Stephen Halmarick sa...

Depending on your point of view .. there's just been some good news on the economy. The official unemployment rate has ticked higher to 4.1 percent for the first time in two years. For some analysis .. I'm joined now by the ABC's senior business correspondent Peter Ryan.

We'll get another snapshot on the health of the economy when official employment figures are released later this morning. The jobless rate is expected to tick slightly higher - but will that be enough to convince the Reserve Bank the economy is slowing enough to consider interest rate cuts? Also, Telstra reveals a billion dollar half year profit on the back of strong mobiles growth.

Commonwealth Bank boss Matt Comyn on "fairly resilient" economy but flags uptick in arrears by Peter Ryan

Commonwealth Bank chief executive Matt Comyn flags an "uptick" in mortgage arrears and impairments as customers struggle with the higher cost of living. But Mr Comyn notes a "resilient" economy after the CBA posted an 8 percent fall in half year net profitn to $4.8 billion.

There's more evidence that rising pressures from aggressive interest rises are beginning to continuing to show up in the broader economy. Consumers cutting back household budgets are also thinking twice when they walk past the electronics retailer JB Hi Fi where revenue and profit has dipped. But that's not the full story. The ABC's senior business correspondent Peter Ryan speaks with the JB Hi Fi...

It's another big week for Australia's economy with the impact of aggressive interest rate rises likes to show up in the official unemployment rate. There'll also be a range of company results out this week that will provide a snapshot on the outlook for a slowing economy.

Reserve Bank governor Michele Bullock warns there "still some way to go" to meet the midpoint of the inflation target range of 2 to 3 per cent, adding that the bank has not ruled out another rise in interest rates, neither has it ruled it in. Ms Bullock told the House Economics Committee the Board "considered a range of scenario" before Tuesday's decision to leave the cash rate on hold at 4.35 per...

Robots in the home, smart kitchens, smart bathrooms, better healthcare and virtual reality becoming part of our lives. That's the not-to-distant future for Australian households as the National Broadband Network embraces artificial intelligence and what will be massive demand for greater internet bandwidth. The N-B-N Co's Stephen Rue concedes there are big ethical and moral hurdles to overcome but...

Five years ago, the National Australia Bank was in deep damage control after losing both its chief executive Andrew Thorburn and chairman Ken Henry who were forced to resign after the banking royal commission. The board of Australia's second biggest bank turned to banking veteran Ross McEwan to rescue the N-A-B and somehow restore it's smashed reputation. Now Ross McEwan's time is up. The 66 year...

Reserve Bank governor Michele Bullock delivered a largely jargon-free performance at yesterday's press conference while warning that interest rates might still rise if inflation flares up again. Economist Warren Hogan gives Michele Bullock five stars for heralding a new era of explaining complex rate decision to mortgage-stressed borrowers. Reporter: Peter Ryan, Senior Business Correspondent Featu...

There's been a sharp reality check this morning about the likelihood of official interest rate cuts in the coming months. The Paris based OECD, which is led for Australia's former finance minister Mathias Cormann, says central banks need to be cautious about slashing rates until there's firm evidence that inflation is under control. The advice comes as Australia's Reserve Bank board prepares to re...

There's been a reality check about the likelihood of official interest rate cuts in the coming months. The Paris based OECD - which is led by Australia's former Finance Minister, Mathias Cormann - says central banks need to be cautious about slashing rates, until there's firm evidence that inflation is under control. The advice comes as Australia's Reserve Bank board prepares to reveal its rates d...

It's a new era for the Reserve Bank today with longer two day meetings, fewer meetings over the year and even a press conference where governor Michele Bullock will be grilled by reporters. But with fresh evidence that inflation is at last falling, borrowers have one big question. Are rate hikes now over and could there even be rate cuts on the horizon?

After a long period of aggressive interest rate rises to combat inflation .. could we soon be in a new and welcome era of interest rate cuts? That's a real possibility after inflation slowed dramatically in the final quarter of last year, taking the annual pace down to 4-point-1 percent. But how realistic is that outlook for rate cuts given that inflation is still well above the Reserve Bank's tar...

Annual inflation has dipped to 4.1 percent in the December quarter update, sparking speculation the Reserve Bank will leave the cash rate on hold at next week's board meeting. The significant slowing is adding to bets the RBA will soon consider interest rate cuts. Earlier today, the International Monetary Fund signalled central banks could begin cutting rates by the end of 2024 as inflation slows....

After recent years of economic gloom driven by the pandemic and geopolitical flareups, the International Monetary Fund is now predicting a soft economic landing for much of the world. The IMF has flagged a faster easing of inflation and is even warning warned central banks shouldn't wait too long before cutting interest rates - suggesting rate cuts should begin in the second half of the year.

The International Monetary Fund is predicting a "soft landing" for the global economy as inflation slows faster than expected. Chief economist Pierre-Olivier Gourinchas warns central banks shouldn't wait too long before cutting interest rates to ease pressure on households reeling from aggressive rate hikes. Reporter: Peter Ryan, Senior Business Correspondent Featured: Pierre-Olivier Gourinchas, I...

It's been described as "a slow moving train wreck" that continues to destabilise China's economy and potentially the rest of the world. We're talking about the China Evergrande Group - the real estate goliath that's facing a complicated liquidation on the order of a Hong Kong court yesterday. So what could be the fallout here in Australia? Also I speak with Deloitte Access Economics partner about...

Official interest rates are expected to remain on hold on growing evidence that inflation in slowing. An quarterly CPI update on Wednesday is tipped to see annual inflation running at a slowing pace of 4.3 percent, down from 5.4 percent, raising the possibility of interest rate cuts by the end of the year. Reporter: Peter Ryan, Senior Business Correspondent

Economists at the Commonwealth Bank predict the Reserve Bank will cut the cash rate by 0.75 percentage points from September 2024 with further cuts in 2025 as inflation comes back into the 2 to 3 percent target range. Also - Peter Ryan on the year's biggest stories.

The Reserve Bank board left official interest rates on hold a fortnight ago given "encouraging signs" that aggressive hikes are conquering inflation. In its final meeting of the year, the RBA board held the cash rate at 4.35 per cent despite concerns that inflation could remain above the 2 to 3 per cent target "for a prolonged period". Reporter: Peter Ryan, Senior Business Correspondent

Oil prices have surged as attacks by Iran-alinged Houthi rebels from Yemen continue to disrupt crucial shipping in the Red Sea. The attacks have promped efforts by the United States to build a coalition to deal with the threat as shipping firms are forced to divert around the Cape of Good Hope to avoid the Suez Canal. Reporter: Peter Ryan, Senior Business Correspondent Featured: Guy Platten, secre...

The year might be winding down as we approach Christmas - but there's not too much of a break for economists tracking where official interest rates might go next year. Which is why there'll be a lot of attention tomorrow when the Reserve Bank releases the minutes from its most recent meeting.