Australian households are warned of a potential Reserve Bank interest rate hike and petrol prices exceeding $2 a litre due to the escalating Middle East crisis pushing global crude oil above $US100 a barrel, impacting inflation and household budgets.
The Philippine economy faces fragility due to internal political turmoil, a corruption scandal, energy shocks, and extreme weather, despite inflation easing to 6.4% in June. ING's report highlights ongoing economic pressures, suggesting the central bank may not yet declare victory over inflation.
Japan's core inflation hit 1.6% in June, driven by higher oil prices and a weak yen, marking the first rise since March. While government subsidies cushioned energy costs for consumers, businesses face surging expenses. The Bank of Japan is reportedly on alert for faster rate hikes amid persistent inflationary pressures.
Ahead of the Federal Reserve's rate decision, prediction markets like Kalshi and Polymarket are experiencing significant institutional growth. Firms and AI agents use event contracts for price discovery and trader evaluation, with monthly volumes reaching billions, despite challenges in execution and potential for concentrated edge.
Queensland's Liberal National government buried a report by domestic violence victim-survivors that criticized police handling of cases and advocated for civilian review mechanisms, despite promises to prioritize victims in justice policies.
The US stock market has seen significant gains in the first half of 2026, driven by AI enthusiasm, while the broader economy exhibits tepid growth. Economists note this divergence, with AI's impact concentrated in tech stocks rather than the consumer-driven economy.
Prominent economists, including Jim O’Neill and Jonathan Portes, have urged the likely next UK Prime Minister, Andy Burnham, to implement radical tax and spending reforms. They propose a single 'national contribution' levy to replace six key taxes, potentially raising £75bn annually, to fund universal public services.
Australia is expected to avoid a recession despite substandard growth, while living standards are set to languish. In UK politics, Nigel Farage resigns as MP but will fight a byelection. The World Cup saw Argentina come from 2-0 down to beat Egypt 3-2 with a Messi goal.
Despite global economic headwinds from the Middle East conflict, India's economy shows resilience with strong GST collections, vehicle sales, and UPI transactions. However, a weak monsoon due to El Nino poses a risk to inflation and rural demand, though economists believe the worst is over.
Economists believe Australia will avoid recession despite a projected contraction in GDP per capita, citing falling oil prices and a tax cut. While inflation and interest rates remain concerns, future growth is anticipated, boosted by datacenters and AI.
Australia's 5% deposit scheme for first home buyers is being widely used, with a significant portion of new participants earning above the previous income caps. Economists suggest this has inflated property prices by increasing buying capacity for those who would have purchased anyway.
Australia's government-backed 5% deposit scheme is predominantly used by first home buyers, with a third of new participants exceeding previous high-income caps. Economists warn this expansion, intended to ease entry, has inflated property prices by boosting buying capacity for those who would have bought anyway.
US employers added 57,000 jobs in June, half of economists' predictions, while past figures were revised down. The unemployment rate fell to 4.2%, but 720,000 people left the labor force. Inflation, influenced by the Middle East war, remains a key concern for the Federal Reserve.
Keir Starmer has proposed that Andy Burnham borrow billions more to cover a £4.7bn gap in the government's defence investment plan. Economists warn this move could significantly reduce the next prime minister's fiscal headroom.
UK house prices saw no growth for the second consecutive month in June, with average prices falling slightly. Rising interest rates, influenced by the war in Iran, have dampened buyer demand, leading estate agents to predict a quiet summer.
Almost 9% of UK government spending on contractors (c. £24.4bn) went to private equity-controlled companies in 2025, raising concerns over profit-driven management of public services like healthcare, transport, and waste management
The UK's record-breaking heatwave is causing significant economic disruption, with economists warning of productivity losses and damaged growth. The situation highlights inequalities in flexible working and the absence of maximum temperature regulations in many workplaces.
More than 40 progressive economists have sent an open letter to Unite leader Sharon Graham, rejecting her assertion that Ed Miliband would destroy jobs if he becomes chancellor. The letter argues the green transition is a major driver of UK industrial job creation, with the net zero economy generating over £100bn and employing more than a million workers.
A UK firm's export drop from 40% to 5% to the EU post-Brexit highlights "long Brexit effect" due to red tape, not tariffs. Studies suggest UK economy is 3-8% smaller than it would have been without Brexit, with trade varieties also significantly reduced.
Economists suggest China's crackdown on cross-border securities trading could bolster Hong Kong's financial standing by steering capital through official channels and reinforcing its role as an offshore yuan hub.
Economists are delaying expectations for a Reserve Bank of India (RBI) interest rate hike, now anticipating tightening in the second half of FY27. This shift is due to easing inflation risks, supported by expected foreign currency inflows and a recent drop in crude oil prices.
President Donald Trump has repeatedly used the number 22 in recent remarks, citing it in discussions about the Iran war, the U.S. economy, and beautification efforts. The significance of this recurring number remains unexplained, sparking speculation about constitutional amendments or cognitive decline.
Ten years after the UK voted to leave the EU, the promised economic revival has not materialized. Businesses face trade friction, economists estimate a smaller economy, and public opinion has shifted, with a majority now favoring rejoining the bloc.
Economists warn Pauline Hanson's One Nation proposals on parental leave and childcare could damage productivity and worsen gender inequality. Suggestions include employers not paying women on maternity leave and shifting childcare funding directly to parents, potentially impacting women's financial independence and the economy.
