Business Update – 17 January 2024

16/01/2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

High chance’ of RBA achieving its goals in 2024: CBA

Commonwealth Bank of Australia chief economist Stephen Halmarick has predicted that the central bank’s desired outcomes from increasing interest rates are likely to come to fruition this year.

Australian capital city rents up 13% over year as further hikes predicted for 2024 amid housing shortage

Housing advocates call for urgent reform to address growing crisis as capital rents hit average of $600 a week. Australia’s record shortage of rental properties will continue to drive prices up for tenants, analysts say, with a new report revealing combined capital city rents rose 13.2% year-on-year.

Golden zone: could Australia’s economy pull off a miracle in 2024?

Signs suggest inflation and interest rates may fall considerably without killing growth or employment. The government will be desperately hoping so.

Will 2024 finally be a happy new year for the Australian economy?

After what has been a miserable decade for the average working-age Australian, what are the causes for optimism in 2024?

Australian companies delaying tech investments due to economy

The challenging economic conditions are leading Australian companies to delay their technology investments, a new survey from Endava has found. Less than one in every twenty Australian businesses believe they’ve reached the peak of their digital journeys according to a recent survey, with 40 percent stating that they had delayed tech investments due to current economic conditions.

Super Review’s Superannuation Guide 2024

For over 30 years, Australia’s globally renowned superannuation system has prepared members for a prosperous retirement. However, many Australians are still unaware of the benefits of the super system. A recent Melbourne University study revealed just half of the adult population believes the super industry “works well” for them. This guide aims to better inform the community about the benefits of super, and in doing so, encourage Australians to better engage with their fund.

Shoppers warned to expect empty shelves, delays if ports strike continues

Shoppers have been warned to expect higher costs and delays in imports of furniture, food and clothing amid ongoing port strikes around Australia and disruption to shipping caused by Red Sea terrorist attacks.

Economists issue rate cut warning over stage-three tax cuts

The scheduled stage-three tax cuts, which are set to come into effect from July 1, could have major implications for the timing of Reserve Bank rate cuts, economists have warned.

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