Stella Qiu

Australia reported a final budget deficit of A$22.3 billion ($15.65 billion) for the year to June 2026, ​better than previously expected, as lower spending and ‌stronger tax receipts boosted the government's bottom line, Treasury said on Monday.

As higher interest rates and the government's rollback of key property tax concessions sap demand, a sharp drop in home sales is hitting a vast ecosystem of businesses that rely on properties changing hands.

Australia's jobless rate unexpectedly rose to a five-year high in August even as employment enjoyed a solid rebound, a mixed report that left markets still wagering on an imminent rate hike to fight inflation.

A look at the day ahead in European and global markets from Stella Qiu

A look at the day ahead in European and global markets from Stella Qiu

Australian ​home prices fell for a fifth month in August in the biggest downturn since the pandemic, and there is further ‌pain ahead as stubborn inflation puts upward pressure on interest rates.

Australian business investment fell in the June quarter as ​a record rush into data ‌centre construction slowed for now, figures showed on Thursday, while companies upgraded ​spending plans for coming months.

Australian consumer prices rose more ​than expected in July as fuel costs jumped, data showed on Wednesday, while core inflation also exceeded forecasts and ‌added to the risk of another hike in interest rates.

Australia's central bank will have to raise interest rates again if upside risks to ​inflation crystallise, a top official said on Wednesday, reiterating a ‌hawkish warning after policymakers held rates steady for a second meeting.

Foreign borrowers are ploughing into once-niche Asia-Pacific bond markets, demonstrating that it's not just Big Tech grabbing funding wherever it can in a world of rising uncertainty and record borrowing.