Australia’s central bank has lifted its benchmark interest rate by a quarter percentage point to 3.85%, after three rate cuts last year and as inflation surges.
An Australian judge has fined telecommunications giant Optus $66 million for unconscionable conduct under consumer law.
Australia’s re-elected Prime Minister Anthony Albanese on Sunday was greeted by well-wishers at a Sydney café and said the country had voted for unity over division.
An Australian Cabinet minister has rejected X Corp. owner Elon Musk’s allegation that the government intends to control all Australians' access to the internet through legislation that would ban young children from social media.
Australian Treasurer Jim Chalmers will become the first government minister from Australia in that key economic role to visit China in seven years.
The Australian government has forecast the nation’s first balanced annual budget in 15 years but warns that economic pressures such as persistent inflation will sink the country into deeper debt.
A meeting of finance chiefs of the Group of 20 leading economies has ended without a consensus, with Russia and China objecting to the description of the war in Ukraine in a final document.
Australian inflation is rising farther, according to new data that increases the likelihood of the central bank next week hiking interest rates for a fourth consecutive month.