Annual inflation in Australia eased in the September quarter to a headline rate of 2.8 per cent, thanks to the effects of government electricity rebates and the lower cost of automotive fuel.
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Almost 10 years of Labor government in Queensland has come to an end, with the Liberal National Party winning a workable majority in the October 26 election.
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Labor is set to extend its 23-year reign in power in the Australian Capital Territory, with the government of Chief Minister Andrew Barr returned on Saturday.
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Prime Minister Anthony Albanese has moved to quell concerns about Australia’s future gas exports to Japan, before meeting with new Japanese PM Shigeru Ishiba during the ASEAN Summit in Laos.
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In a country like Australia, where voting is compulsory, it’s easy to overlook the factor of non-voter participation in larger democracies such as in the United States.
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Economic growth in Australia will pick up in 2025 but elevated inflation levels remain a major domestic risk, according to the International Monetary Fund (IMF).
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Australia has recorded a higher-than-forecast budget surplus for the 2023-24 financial year, with the Federal Government delivering the first back-to-back surpluses for 16 years.
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Leaders of Australia, the United States and the United Kingdom have marked the third anniversary of AUKUS by moving to extend Pillar II of the defence partnership to Canada, New Zealand and the Republic of Korea.
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Trade and Tourism Minister Don Farrell has hailed a turnaround in exports to China since the easing of tariff restrictions on selected Australian products.
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Australia has continued its pattern of sluggish economic growth, with the Gross Domestic Product (GDP) rising just 0.2 per cent, seasonally adjusted, over the June quarter.
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Government-funded energy rebates have helped to curb the annual inflation rate for July, according to latest official figures.
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Labor has been defeated in the Northern Territory election, with the Country Liberal Party (CLP) returning to office after eight years.
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Annual wage rises outpaced the rate of inflation over the 2023-24 year, increasing by 4.1 per cent, seasonally adjusted, according to official figures.
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Reserve Bank Governor Michele Bullock has delivered a reality check on prospects for interest rate relief, warning that inflation was still well above the central bank’s 2-3 per cent target range.
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Prime Minister Anthony Albanese has announced the first Cabinet reshuffle of his 26-month old government, announcing major changes to a raft of portfolios.
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US President Joe Biden has announced that he will not seek re-election at the November election, becoming the first single-term American President in more than 140 years to decline to re-contest.
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Federal Treasurer Jim Chalmers has predicted that the budget surplus for the 2023-24 year will end in the “mid-teens” billions of dollars, which he says could result in the largest back-to-back surpluses on record (after a $22.1 billion surplus in 2022-23).
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Australia will commit more than $2 billion over the next decade in partnering with Amazon Web Services (AWS) to deliver a purpose-built Top Secret Cloud for defence and national intelligence agencies.
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Annual inflation has taken another sharp rise, hitting four per cent in the 12 months to May, according to latest Australian Bureau of Statistics price data.
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