Share market slides, tight credit conditions and faltering demand will weigh down Australia’s economic performance in coming months, a report says.
But the economy is not expected to be in a worse position than in the aftermath of the millennium tech wreck of seven years ago as the Reserve Bank of Australia (RBA) delivers more rate […]

Federal Opposition Leader Malcolm Turnbull says the Rudd government should have acted sooner to shield Australia from fallout from the global economic crisis.
In a televised address to the nation tonight, Mr Turnbull accused the government of failing to heed the warning signs earlier in the year that pointed to the scope of the problem.
“With the […]

GE Money have announced that they will not be able to pass on the RBA’s October cash rate cut for any new or existing borrowers.
Stating the reason as relating to the extraordinary rise in the cost of funds globally, it will be interesting to see the effects of this decision given that pretty much everyone […]

The U.S. government will use $250 billion of the $700 billion Troubled Asset Relief Program to invest directly in U.S. banks. The rescue package also includes bank loan guarantees and provisions to stabilize the commercial paper market.
In a news conference this morning, President Bush said the federal government will purchase equity shares using funds from […]

The federal government’s $10.4 billion economic stimulus package may lead to interest rates falling at a slower rate than otherwise expected, a leading economist says.
The package contains one-off handouts including $4.8 billion to all pensioners and carers, and $3.9 billion to low and middle income families.
Under the plan, first home buyers who purchase a newly […]