Australian mortgage holders could face three more interest rate hikes by 2026, a rate not seen since the global financial crisis, as a leading property expert has predicted house prices will fall or fall in major cities. Rising oil prices have hit the economy amid renewed conflict in the Middle East, with increased costs and … Read more
Morgan Stanley sees Australia as highly exposed to global diesel supply disruptions, with low inventories raising the risk of shortages rather than high prices alone. The impact is expected to affect key industries, drive wage stability, and disrupt exports if the deficit continues. Summary: Morgan Stanley marks Australia on the front line of a global … Read more
In 2013, Shell closed its Clyde refinery on the Paramatta River, and a year later, Caltex closed Kurnell in Botany Bay. That was the time when Australia went from being self-sufficient in petrol and diesel to relying on imports. The oil shocks of the 1970s were forgotten. We endured a decade of recession like everybody … Read more