Economy

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Australian night time economy report for 2019-20 released

The Council of Capital City Lord Mayors (CCCLM) has released its report ‘Measuring the Australian Night Time Economy 2019-20’ which details commissioned research into core elements of the night-time economy. This is the 10th year for the research, which focuses on food, drink and entertainment businesses and the associated economic performance. This report covers the 2019-20

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What SMBs can do now to support long-term economic recovery

The national business opportunity has the ability to secure a more confident and certain future for the state’s economy if local consumers look to their own communities for goods and services and support small businesses.   While Queensland is locked out from markets in other states, Chamber of Commerce and Industry Queensland (CCIQ) is calling on the

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2 Reasons why economic activity will bounce back once restrictions ease

In this we argue why we think activity should again rebound sharply once lockdown restrictions are eased.  The key to how sharply activity can rebound is: (1) will people feel confident to resume activity; and (2) have household and business balance sheets been sufficiently insulated from recent outbreaks? There is good reason to answer ‘yes’

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Treasury to be granted more powers in regulating fintech sector 

The Morrison Government has today released the final report of the Payments System Review, which considered whether the regulatory architecture of the Australian payments system is fit‑for‑purpose and responsive to advances in payments technology and changes in business models and consumer demand. The review also examined how the regulatory architecture could create more productivity‑enhancing innovation and

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Australia’s path to reopening in global context

The NSW and Victorian outbreaks remain stubbornly high in the face of strict lockdown measures, renewing focus on vaccinations as the path forward. The vaccination rollout is finding its gear, led by a sharp acceleration in NSW, putting the rollout on track to meet reopening thresholds by November. Analysis:  Australia’s path to reopening in international context

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Worst-performing G10 currency? 3 Factors behind AUD’s decline

The Australian dollar is down 7.1% vs. the USD so far this year, making it the worst-performing G10 currency against the big dollar. Much of this under-performance has taken place in the last few months; indeed, AUD/USD has declined over 8% in just three months. There are a number of forces at work on the

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Growing economic divide between low and high-income earners

Household financial stress is up on rising concerns over monthly household expenses. There’s also a growing economic divide between low & high-income earners, jobless & employed, and fewer Australians believe now is a good time to buy a home. The financial fallout of COVID-19 has been as challenging as the health risks, but the stress

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RBA urged to act on crippling debit card transaction fees

13,200 signatures and growing – that’s the number of Australians who have joined small businesses to call on the Reserve Bank of Australia to act on crippling debit card transaction fees for both businesses and consumers. A petition established by the Council of Small Business Organisations Australia (COSBOA) and nine other leading small business organisations

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Acute lockdown impacts being seen in the labour market

Lockdowns in Australia are likely to have a very acute impact on the economy, much more than what the RBA had pencilled in only a week ago. While NAB still expects a sharp rebound in activity when restrictions ease, the near-term impact is likely to be larger with lockdowns extending beyond Sydney (e.g. NSW, Melbourne

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