Tag: AustralianEconomy

Blair Foster

ASX Climbs on Rate-Cut Hopes as Banks Lead; Mayne and Nufarm Tumble

Australia’s sharemarket extended its winning streak on Wednesday, buoyed by optimism that the Reserve Bank of Australia (RBA) will deliver further rate cuts in coming months. The benchmark S&P/ASX 200 index closed at 8,386.80 points, up 43.50 points or 0.5 per cent, capping a two-day gain of 1.1 per cent. Nine of the ASX’s 11 sectors finished in positive territory, with financials, energy and utilities powering the advance. Defensive sectors including healthcare and staples also outperformed, while materials edged higher on a gold-price rally.

22 May 2025 · 6 min read

Blair Foster

Westpac Shares Slide Amid Profit Dip and Uncertain Economic Outlook

Westpac Banking Corporation has reported a 1% decline in its first-half net profit, totaling A$3.32 billion for the six months ending March 31, 2025. This figure fell short of market expectations, leading to a 3.8% drop in the bank's share price on the day of the announcement. The profit shortfall was attributed to contracting net interest margins and a rise in operating costs driven by technology investments and the bank’s UNITE simplification program .

6 May 2025 · 1 min read

Blair Foster

Headline Inflation Holds at 2.4% as Core Inflation Returns to RBA Target Band for First Time Since 2021

Australia's inflation picture is showing renewed signs of stability, with headline inflation holding steady at 2.4% annually and, for the first time in over three years, the Reserve Bank of Australia’s preferred core inflation measure — the trimmed mean — falling within its 2–3% target band.

1 May 2025 · 3 min read