A further slowdown in global trade, the cost of the transition to net zero emissions and waning business dynamism could drive down productivity growth and make Australians poorer, the Reserve Bank has warned.
The proportion of pandemic-era home buyers bailing out within two years and selling for a loss more than tripled to 9.7 per cent in the June quarter from a year earlier.
Australians will devote almost one in every four dollars of their earnings to paying income tax and loan interest by the middle of next year, as hundreds of billions of dollars of fixed-rate mortgages roll off and workers lose wage gains to bracket creep.
