Smallest budget deficit in nine months

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In the year to February, the budget deficit stood at $37,992 million (around 2.6 per cent of GDP), the smallest deficit in nine months. What do the figures show? The

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Credit cards slide from favour

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The average credit card balance fell by a record 2.5 per cent in the year to February. The average credit card limit rose by just 1.4 per cent in the

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Unemployment rate lifts to 3½-year high

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Employment fell by 36,200 in March after lifting by 74,000 jobs in February (previously reported as up 71,500). Economists had expected a fall of 10,000 in jobs in March. In

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The rise of and rise of bitcoins

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This article examines the emergence of “bitcoins” – a digital currency – effectively electronic cash that enables payments to be made without going through financial institutions like banks. Currently there are

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One-minute update: sensible superannuation reforms

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The changes to superannuation arrangements will generate $900 million over the forward estimates to 2015/16 (0.2 per cent of annual receipts) and Federal Treasury estimates that the main measure affecting

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Interest rates: stability reigns

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The Reserve Bank Board has left the official cash rate at 3.00 per cent for the fourth straight month. The next RBA Board meeting is on May 7 2013. The

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One minute update:Population lifts, inflation & borrowing subdued

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A raft of new economic data was released just before Easter. What do the figures show? The TD Securities/Melbourne Institute monthly inflation gauge rose by 0.2 per cent in March to

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Job market winners & losers

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Employment rose by 102,400 over the three months to February – the biggest quarterly gain in five years. Strongest sector was Wholesale trade (up 39,500) while Manufacturing employment fell by

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One-minute update: RBA heralds economic performance

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Australia has adjusted well to global shocks: Reserve Bank Deputy Governor Philip Lowe says that the Australian economy has adjusted “pretty well” to global shocks. What comments or issues stand

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Businesses subdued: NAB business survey

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The NAB business confidence index weakened from +3.1 points to +0.7 points in February and the business conditions index weakened from minus 1.8 points to minus 2.7 points. The survey

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