Inflation

Commonwealth Bank forecasts massive interest rate cuts for Australians: Here’s when the country’s biggest bank predicts they will begin

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The Commonwealth Bank is now forecasting six interest rate cuts in 2024 and 2025 – starting in September next year as Australian inflation moderates faster than predicted. Stephen Halmarick, the chief economist of Australia’s biggest home lender, is expecting 0.75 percentage points of rate cuts in 2024 followed by another 0.75 percentage points of easing … Read more

Labour denies claim it is planning another windfall tax to pay for its £28billion green spending spree if it wins the next election

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By David Wilcock, Deputy Political Editor For Mailonline Published: 14:06 GMT, 15 December 2023 | Updated: 14:06 GMT, 15 December 2023 Labour today denied claims it is will introduce a new windfall tax to fund its green spending plans if it wins the next election.  Reports suggested that the party was looking at another punitive … Read more

One million households face council tax hikes of up to 15% after Bradford and Cheshire East became latest town halls to warn they are at risk of going bust

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By David Wilcock, Deputy Political Editor For Mailonline Published: 10:53 GMT, 15 December 2023 | Updated: 10:54 GMT, 15 December 2023 A million households in the north of England face massive increases in council tax after two more local authorities warned they are on the verge of going bust.  Labour-run Bradford City and Cheshire East … Read more

Hopes are raised for an interest rate cut next year as figures show pay growth has slowed sharply

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Chancellor Jeremy Hunt said it was positive to see inflation continuing to fall Inflation came down from 11.1 per cent last autumn to 4.6 per cent today  By John-paul Ford Rojas Associate City Editor Updated: 02:16 GMT, 13 December 2023 Hopes for an interest rate cut in the first half of next year have been … Read more

Fresh update on Australia’s inflation crisis as new figure shows where Aussies are hurting the most

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By Stephen Johnson, Economics Reporter For Daily Mail Australia Published: 00:56 GMT, 29 November 2023 | Updated: 02:32 GMT, 29 November 2023 Australia’s inflation levels have moderated but electricity and gas prices are still surging by double-digit figures. The consumer price index eased in October to 4.9 per cent, down from an annual pace of 5.6 … Read more

Australia inflation shock as CPI spikes in grim cost of living signal for millions of Australian homeowners

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Australia inflation shock as CPI spikes in grim cost of living signal for millions of Australian homeowners  Inflation rose by 5.2 per cent in August  Petrol prices surged by 13.9 per cent  By Stephen Johnson, Economics Reporter For Daily Mail Australia Published: 02:34 BST, 27 September 2023 | Updated: 03:36 BST, 27 September 2023 Australian … Read more

Economists blame high inflation on Bank of England’s money-printing

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Economists yesterday blamed the Bank of England’s money-printing spree for fuelling double-digit inflation – as Britain faces another painful interest rate hike to try to bring it back down. The Bank pumped £450billion into the economy to help steer Britain through the pandemic but experts told MPs that helped to create the price spiral that … Read more

House prices in London still highest in the country but inflation drops to the lowest in the UK

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London is still out-pricing the rest of the country when it comes to property buying, the latest UK House Price Index has revealed.  The capital’s average house prices remain the most expensive of any region in the UK, with an average price of £542,300 in November 2022. But the capital was also the English region … Read more

Black Friday likely saw biggest EVER online shopping day with $9 billion spent by customers

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U.S. online spending is expected to set a record for Black Friday, according to Adobe Analytics, as steep discounts lured consumers against the backdrop of high inflation, kicking off the year’s biggest shopping event on a strong note.   Initial numbers from Adobe Analytics, the data and insights arm of software company Adobe Inc, showed shoppers … Read more

Goldman Sachs and JPMorgan CEOs predict Fed will raise interest rates to 4.75% and expect recession

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The CEOs of Goldman Sachs and JPMorgan Chase have warned that the United States could be on the cusp of a recession, with inflation likely to get even worse. Speaking at a conference in Saudi Arabia on Tuesday, the financial titans painted a bleak picture of what lies ahead. David Solomon of Goldman Sachs said … Read more