Reserve Bank lifts the base rate by 50 basis points to increase from 1.85 to 2.35 per cent
Each week at auctions across the country, participants are rushing to get in now before the price of property falls further and before the RBA lifts rates to a higher level not seen for over 20 years. Odd logic, but that is what’s happening. Another part of that scenario came to fruition today when the […]
Farming exports forecast to reach a record $70.3 billion from a $81.8 billion crop season
Exceptional growing conditions and high global prices are continuing to benefit our local agricultural production and exports. A report released today is forecasting agricultural export earnings to climb to a record $70.3 billion for 2022-23, that’s almost 50% more than what it was 10 years ago after accounting for inflation. ABARES Executive Director Dr Jared […]
CFMEU and Hutchinson to pay penalties of $1.35 million for boycott conduct
The Federal Court has today ordered the Construction, Forestry, Maritime, Mining and Energy Union (CFMEU) and construction company J Hutchinson Pty Ltd (Hutchinson) to pay penalties of $750,000 and $600,000 respectively for boycott conduct in breach of competition laws, in proceedings brought by the ACCC. This follows the Court’s earlier finding that the CFMEU and […]
CommBank launches Agri Green Loan to support producers’ environmental and climate goals
As part of its commitments to support customers transitioning their business and to invest in environmental projects, Commonwealth Bank today announced the national rollout of its Agri Green Loan. Today’s launch follows a successful pilot, and opens the door for more farmers to access funding — at discounted rates — for eligible purposes that reduce their […]
CBA announces new interest rates in response to the Reserve Bank of Australia’s cash rate decision August 2022
Following the Reserve Bank of Australia’s (RBA) cash rate decision, on 02 August 2022, CBA will increase home loan variable interest rates by 0.50% per annum (p.a.) and increase the interest rates on select savings products. Standard Variable rate changes Owner Occupier Principal and Interest Standard Variable Rate home loans will increase by 0.50% p.a. […]
Victorian government stumps up $10 million for Waste to Energy – Bioenergy Fund for eligible organisations with an election looming
The new $10 million Waste to Energy – Bioenergy Fund gives commercial and industrial organisations across a wide range of sectors a big leg up when it comes to helping to save the planet. The fund will support projects that create renewable energy from organic waste, i.e. bioenergy. Energy types created in this way […]
Victoria overtakes Tasmania as best performing state economy according to CommSec State of the States report
The latest quarterly CommSec data shows Victoria is the best performing economy, ending Tasmania’s long run at the top. After nine quarters at the top, Tasmania has slipped to third position in the rankings of the best performing economies, according to the latest quarterly CommSec State of the States report. Victoria leads the economic rankings, […]
Farm safety front and centre with National Farm Safety Week from 18 to 22 July
National Farm Safety Week is underway and acts as a reminder of the many dangers involved in farming and the need to protect our farmers and farm workers the best we can. This year’s Farm Safety Week is based on the theme ‘Recipes for Averting Disaster’. It focuses on the intangible risks and hazards that […]
NHVR and LBRCA say we should share the road this National Farm Safety Week
The National Heavy Vehicle Regulator (NHVR) and Livestock, Bulk and Rural Carriers Association (LBRCA) is encouraging all road users to share the road with agricultural vehicles and machinery this National Farm Safety Week (18-24 July 2022). The message targets a reduction of regional road crash fatalities in Australia, as the risk of a person being killed […]
Rising prices and return to work lift consumer spending in June but higher interest rates making an impact
Consumer spending measured by the CommBank HSI Index rose by a modest 0.9 per cent in June to 117.3%, while there was clear evidence of weaker discretionary spending following the recent interest rate hikes. The marginal rise in the index – which combines Commonwealth Bank of Australia (CBA) payments and lending data and Google Trends […]