Economy

A virus-induced plunge in Australia’s real GDP in 2020 is set to be followed by a sharp spike in the coming year, the IMF has forecast in a new report.

The small business ombudsman has welcomed the addition of several non-bank lenders as participants in the government’s SME guarantee scheme.

The Victorian government has announced a $500-million rental relief package, expanding on the national cabinet’s mandatory code to accommodate for residential tenants.

The “double whammy” of the Easter long weekend and ban on on-site auctions have resulted in the lowest clearance rates since reporting began in 2008.

Indebted households with only small buffers risk their mortgage loans going into arrears if labour market dislocations continue due to COVID-19, the RBA has said.

The number of home owners taking their property to auction is expected to fall as clearance rates drop and market uncertainty persists.

Leading figures, including a former deputy prime minister, have revealed why the government response to the COVID-19 crisis is so different to that of the GFC.

Digital wallet transactions have hit record numbers amid the coronavirus outbreak as users move away from cash transactions, according to new data.

The NSW government has indicated that it will be providing $440 million in rent relief, land tax waivers and rebates for landlords and tenants across both residential and commercial ...

Expectations of a “significant economic shock” in the first half of 2020 have prompted both Fitch Ratings and S&P to downgrade Australia’s largest banks.