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Improved federal budget picture ahead of expected interest rate hike
Published 2 weeks, 5 days ago
Description
What the latest budget figures show about the health of Australia's economy.
The Reserve Bank of Australia is widely expected to raise interest rates to a 15-year-high of 4.6 per cent this week. The central bank is attempting to bring down inflation amid pressures, including conflicts in the Middle East and policy settings on AI and migration. Meanwhile, the federal budget deficit picture has improved, which the Albanese government says puts them in a stronger position to respond to inflationary pressures. But whose responsibility is it to improve Australia's economic outlook and reality and what can households expect?
In this episode:
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The Reserve Bank of Australia is widely expected to raise interest rates to a 15-year-high of 4.6 per cent this week. The central bank is attempting to bring down inflation amid pressures, including conflicts in the Middle East and policy settings on AI and migration. Meanwhile, the federal budget deficit picture has improved, which the Albanese government says puts them in a stronger position to respond to inflationary pressures. But whose responsibility is it to improve Australia's economic outlook and reality and what can households expect?
In this episode:
- Why a better-than-expected budget result is reigniting the inflation debate.
- What another interest rate rise could mean for households and the economy.
- The competing political arguments over cost-of-living pressures, spending and energy policy.
- How migration targets have become an economic and political flashpoint.
- Why AI, productivity and demographic change are creating new long-term challenges.
Listen to more episodes of SBS News in Depth, and follow the show on the SBS Audio app, Apple Podcasts, Spotify or wherever you get your podcasts.
For the latest news from Australia and around the world, visit SBS News and follow us on YouTube, TikTok, Instagram, Facebook and X.