{"id":694138,"date":"2026-03-31T05:55:24","date_gmt":"2026-03-31T05:55:24","guid":{"rendered":"https:\/\/www.europesays.com\/us\/694138\/"},"modified":"2026-03-31T05:55:24","modified_gmt":"2026-03-31T05:55:24","slug":"markets-live-updates-consumer-confidence-hits-record-low-asx-up-junior-pay-rates-to-go-for-over-18s","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/694138\/","title":{"rendered":"Markets live updates: Consumer confidence hits record low, ASX up, junior pay rates to go for over 18s"},"content":{"rendered":"<p>36m agoTue 31 Mar 2026 at 5:19amMarket snapshot<img decoding=\"async\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/03\/lcimg-87cde6b7-d126-4816-beb6-ae7b0a365d2c.jpeg\" alt=\"Jason Dasey profile image\" class=\"Avatar_avatarImage__f1Jjg\" style=\"display:none\"\/><\/p>\n<ul class=\"ContentAlignment_marginBottom__4H_6E ContentAlignment_overflowVisible__N2zKU\">\n<li><b>ASX 200<\/b>: +0.25% to 8,481.8 points (live figures blow)<\/li>\n<li><b>Australian dollar<\/b>: -0.12% at 68.43 US cents<\/li>\n<li><b>Wall Street<\/b>: Dow Jones (+0.1%), S&amp;P 500 (-0.2%)<\/li>\n<li><b>Europe<\/b>: FTSE (+1.6%)<\/li>\n<li><b>Asia<\/b>: Nikkei (-1.1%), KOSPI (-4.3%), Hang Seng (-0.5%)<\/li>\n<li><b>Spot gold<\/b>: +1% to $US4,555\/ounce<\/li>\n<li><b>Spot silver<\/b>: +2.6% to $US71.81\/ounce<\/li>\n<li><b>Oil (Brent crude)<\/b>: +0.3% at $US113.13\/barrel<\/li>\n<li><b>Iron ore<\/b>: -0.04% at $US106.32\/tonne<\/li>\n<li><b>Bitcoin<\/b>: +1.05% at $US67,371<\/li>\n<\/ul>\n<p class=\"paragraph_paragraph___QITb\">Price current around 4:15pm AEDT<\/p>\n<p>Just nowTue 31 Mar 2026 at 5:54am<\/p>\n<p>Star Entertainment licence to remain suspended<img decoding=\"async\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/03\/lcimg-f36b83a2-46d0-4bf4-8c37-dc028268654e.png\" alt=\"Gareth Hutchens profile image\" class=\"Avatar_avatarImage__f1Jjg\" style=\"display:none\"\/><\/p>\n<p class=\"paragraph_paragraph___QITb\">The <b>Star Entertainment Group <\/b>has<b> been advised <\/b>by the <b>NSW Independent Casino Commission (NICC)<\/b> that <b>the suspension of the licence<\/b> for <b>The Star Sydney<\/b> <b>will remain in effect<\/b> at this time.<\/p>\n<p class=\"paragraph_paragraph___QITb\">The NICC has also advised The Star that the Manager&#8217;s appointment for The Star Sydney Casino has <b>been extended to 30 September 2026<\/b> unless terminated earlier by the NICC.<\/p>\n<p class=\"paragraph_paragraph___QITb\">This aligns with the current term of appointments of the Special Manager to The Star Gold Coast and the external advisor for The Star Brisbane.<\/p>\n<p>13m agoTue 31 Mar 2026 at 5:42am<\/p>\n<p>ASX200 graph<img decoding=\"async\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/03\/lcimg-f36b83a2-46d0-4bf4-8c37-dc028268654e.png\" alt=\"Gareth Hutchens profile image\" class=\"Avatar_avatarImage__f1Jjg\" style=\"display:none\"\/><\/p>\n<p class=\"paragraph_paragraph___QITb\">Here&#8217;s the graph showing what the ASX200 did today.<\/p>\n<p class=\"paragraph_paragraph___QITb\">It began rallying quickly before midday, then it slowly declined through the afternoon before closing 20.8 points higher on yesterday&#8217;s close.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/03\/lcimg-ad8fa7c9-bf6c-4da2-bd5d-b49a4720f229.png\" alt=\"\" class=\"image_fluidImage__Sg10H\" data-component=\"LiveBlogPostImg\"\/>26m agoTue 31 Mar 2026 at 5:29amASX up 0.25% to finish March but down 7.8% for the month<img decoding=\"async\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/03\/lcimg-87cde6b7-d126-4816-beb6-ae7b0a365d2c.jpeg\" alt=\"Jason Dasey profile image\" class=\"Avatar_avatarImage__f1Jjg\" style=\"display:none\"\/><\/p>\n<p class=\"paragraph_paragraph___QITb\">It could have been better, it could have been worse&#8230;<\/p>\n<p class=\"paragraph_paragraph___QITb\"><b>The ASX 200 <\/b>spent the morning in the red before an impressive lunchtime rally that saw it up around 1 per cent in the early afternoon.<\/p>\n<p class=\"paragraph_paragraph___QITb\">But it finished just <b>0.25% higher<\/b> at<b> 8481.8, up by 20.8 points<\/b>.<\/p>\n<p class=\"paragraph_paragraph___QITb\">It wasn&#8217;t a spectacular end to the month, but at least the ASX didn&#8217;t fall further.<\/p>\n<p class=\"paragraph_paragraph___QITb\"><b>Academic &amp; Educational Services <\/b>and <b>Technology<\/b> were the best performing sectors, while the drag came from <b>Energy <\/b>and <b>Consumer Non-Cyclicals<\/b>.<\/p>\n<p class=\"paragraph_paragraph___QITb\">In the month of March, the ASX dropped around <b>7.8%<\/b>.<\/p>\n<p>42m agoTue 31 Mar 2026 at 5:13am<\/p>\n<p>RBA minutes, Middle East conflict, federal budget windfall<img decoding=\"async\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/03\/lcimg-f36b83a2-46d0-4bf4-8c37-dc028268654e.png\" alt=\"Gareth Hutchens profile image\" class=\"Avatar_avatarImage__f1Jjg\" style=\"display:none\"\/><\/p>\n<p class=\"paragraph_paragraph___QITb\"><b>Westpac head of FM strategy Martin Whetton<\/b> has sent around a note with a snapshot of some of today&#8217;s economic news:<\/p>\n<ul class=\"ContentAlignment_marginBottom__4H_6E ContentAlignment_overflowVisible__N2zKU\">\n<li>The <b>RBA minutes <\/b>were released today and said <b>long term inflation  expectations remain well anchored<\/b> but do so on the basis central  banks can maintain their credibility and hold inflation to account.<\/li>\n<li><b>Higher-than-assumed commodity prices are expected to deliver the  Federal budget a windfall of almost $60bn over the five years<\/b> to FY30.  <a class=\"Link_link__5eL5m ScreenReaderOnly_srLinkHint__OysWz Link_showVisited__C1Fea Link_showFocus__ALyv2\" href=\"https:\/\/www.westpaciq.com.au\/economics\/2026\/03\/australian-budget-update-2026-march\" data-component=\"Link\" rel=\"nofollow noopener\" target=\"_blank\">Around $20bn of this uplift reflects the impact of the Middle East  conflict<\/a>, particularly via higher coal and LNG export prices. <b>This more  than offsets the $2.6bn cost of halving the fuel excise for three months<\/b>.<\/li>\n<li>US president Donald Trump has made his <b>10th change of call this month on Iran <\/b>by saying thathe&#8217;s now willing to end the war without the Straits of Hormuz being opened.\u00a0Giving away this sort of optionality would leave allies and friends in a  dire situation for supply, on a day when Iran struck a fully laden Kuwaiti  crude carrier.<\/li>\n<\/ul>\n<p>46m agoTue 31 Mar 2026 at 5:08amMore &#8216;cost pressures&#8217; for retail sector after RBA decision on card surcharges<img decoding=\"async\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/03\/lcimg-87cde6b7-d126-4816-beb6-ae7b0a365d2c.jpeg\" alt=\"Jason Dasey profile image\" class=\"Avatar_avatarImage__f1Jjg\" style=\"display:none\"\/><\/p>\n<p class=\"paragraph_paragraph___QITb\">Consumers may be applauding the decision by the <b>Reserve Bank of Australia decision to ban card surcharges<\/b>, but not everyone is happy about it.\u00a0<\/p>\n<p class=\"paragraph_paragraph___QITb\"><b>The Australian Retail Council (ARC) <\/b>says the move will add to cost pressures across the retail sector, particularly for smaller businesses operating on tight margins.<\/p>\n<blockquote class=\"Blockquote_blockquote__YVWQm ContentAlignment_marginBottom__4H_6E ContentAlignment_overflowAuto__c1_IL\" data-component=\"Blockquote\">\n<p class=\"paragraph_paragraph___QITb\">&#8220;Retailers don&#8217;t surcharge by choice. Lower interchange fees and greater transparency are welcome steps, but they do not eliminate the cost of accepting card payments, nor do they guarantee that savings will be passed through in full,&#8221; <b>ARC CEO Chris Rodwell<\/b> said.<\/p>\n<p class=\"paragraph_paragraph___QITb\">&#8220;Removing surcharges reduces the flexibility retailers have to cover those costs, and that pressure will be felt most by smaller businesses already facing a cost-of-doing-business crisis,&#8221; Mr Rodwell said.<\/p>\n<\/blockquote>\n<p class=\"paragraph_paragraph___QITb\"><b>October 1st <\/b>is when surcharging on debit and credit cards will end.<\/p>\n<p class=\"paragraph_paragraph___QITb\">Read more about the RBA&#8217;s decision from <b>ABC News business reporter Adelaide Miller<\/b>:<\/p>\n<p>1h agoTue 31 Mar 2026 at 4:31amWho pays for petrol explained in ABC Business Daily podcast<img decoding=\"async\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/03\/lcimg-87cde6b7-d126-4816-beb6-ae7b0a365d2c.jpeg\" alt=\"Jason Dasey profile image\" class=\"Avatar_avatarImage__f1Jjg\" style=\"display:none\"\/><\/p>\n<p class=\"paragraph_paragraph___QITb\">The latest ABC Business Daily podcast is out, with Chief Business Correspondent Ian Verrender joining Carrington Clarke.<\/p>\n<p class=\"paragraph_paragraph___QITb\">And they&#8217;re discussing today&#8217;s hot topic: fuel prices and the government&#8217;s attempt at easing pain at the pump.<\/p>\n<p class=\"paragraph_paragraph___QITb\">It&#8217;s a great listen, you can hear the podcast <a class=\"Link_link__5eL5m ScreenReaderOnly_srLinkHint__OysWz Link_showVisited__C1Fea Link_showFocus__ALyv2\" href=\"https:\/\/www.abc.net.au\/listen\/programs\/abc-business-daily\/who-pays-for-petrol\/106512650\" data-component=\"Link\" rel=\"nofollow noopener\" target=\"_blank\">here<\/a>.<\/p>\n<p>1h agoTue 31 Mar 2026 at 4:25amWhen will petrol and diesel prices drop in Australia?<img decoding=\"async\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/03\/lcimg-87cde6b7-d126-4816-beb6-ae7b0a365d2c.jpeg\" alt=\"Jason Dasey profile image\" class=\"Avatar_avatarImage__f1Jjg\" style=\"display:none\"\/><\/p>\n<p class=\"paragraph_paragraph___QITb\">Australians are set to see some relief at the petrol pump after Prime Minister Anthony Albanese announced a cut to the fuel excise.<\/p>\n<p class=\"paragraph_paragraph___QITb\">With the tax temporarily cut in half, the 53 cent-a-litre charge will<strong>\u00a0fall by 26.3 cents\u00a0<\/strong>for\u00a0<strong>three months<\/strong>\u2014 from April 1 until June 30.<\/p>\n<p class=\"paragraph_paragraph___QITb\">The heavy vehicle road user charge \u2014 <b>about 32 cents a litre<\/b> \u2014 will also be reduced to zero for three months, in a bid to support truck drivers.<\/p>\n<p class=\"paragraph_paragraph___QITb\">ABC News reporter\u00a0<b>Hanan Dervisevic<\/b> breaks it all down for you:<\/p>\n<p>1h agoTue 31 Mar 2026 at 4:15amNSW premier calls for more sovereignty on national energy supply as petrol prices rise<img decoding=\"async\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/03\/lcimg-f36b83a2-46d0-4bf4-8c37-dc028268654e.png\" alt=\"Gareth Hutchens profile image\" class=\"Avatar_avatarImage__f1Jjg\" style=\"display:none\"\/><\/p>\n<p class=\"paragraph_paragraph___QITb\">NSW Premier Chris Minns has argued Australia needs greater &#8220;sovereignty&#8221; over its energy and must electrify its economy if it is to survive future oil shocks.<\/p>\n<p class=\"paragraph_paragraph___QITb\">Mr Minns made the comments while announcing the state&#8217;s fuel saving measures under the national fuel security plan.<\/p>\n<blockquote class=\"Blockquote_blockquote__YVWQm ContentAlignment_marginBottom__4H_6E ContentAlignment_overflowAuto__c1_IL\" data-component=\"Blockquote\">\n<p class=\"paragraph_paragraph___QITb\">&#8220;We need more sovereignty and control over our energy, and we need to be able to drive our economy independent of what happens in the Middle East,&#8221; he said.<\/p>\n<p class=\"paragraph_paragraph___QITb\">&#8220;We have to consider the next conflict and anyone who thinks this is the last war in the Middle East is a complete mug \u2014 we have to start thinking about the future.<\/p>\n<p class=\"paragraph_paragraph___QITb\">&#8220;This is a long-term change, but the question is \u2014 do we start tomorrow or do we just wait for the next war?&#8221;<\/p>\n<\/blockquote>\n<p class=\"paragraph_paragraph___QITb\">Read more of the story here:<\/p>\n<p>1h agoTue 31 Mar 2026 at 3:59am<\/p>\n<p>Oil price rides waves of headline-driven volatility<img decoding=\"async\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/03\/lcimg-f36b83a2-46d0-4bf4-8c37-dc028268654e.png\" alt=\"Gareth Hutchens profile image\" class=\"Avatar_avatarImage__f1Jjg\" style=\"display:none\"\/><\/p>\n<p class=\"paragraph_paragraph___QITb\"><b>Tony Sycamore from IG<\/b>\u00a0says the price of crude oil has given up its early gains on the latest signs of US de-escalation in the Middle East.<\/p>\n<blockquote class=\"Blockquote_blockquote__YVWQm ContentAlignment_marginBottom__4H_6E ContentAlignment_overflowAuto__c1_IL\" data-component=\"Blockquote\">\n<p class=\"paragraph_paragraph___QITb\">&#8220;As we enter the second month of the conflict in Iran, oil markets continue to ride a wave of headline-driven volatility, with ripples felt across most asset classes,&#8221; Mr Sycamore writes.<\/p>\n<p class=\"paragraph_paragraph___QITb\">&#8220;This morning brought another sharp swing: reports that <a class=\"Link_link__5eL5m ScreenReaderOnly_srLinkHint__OysWz Link_showVisited__C1Fea Link_showFocus__ALyv2\" href=\"https:\/\/www.aljazeera.com\/news\/liveblog\/2026\/3\/31\/iran-war-live-kuwaiti-oil-tanker-hit-in-dubai-port-3-un-troops-killed\" data-component=\"Link\" rel=\"nofollow noopener\" target=\"_blank\">Iran struck a fully laden Kuwaiti oil tanker<\/a>, the Al-Salmi, off Dubai triggered an immediate spike, pushing WTI crude as high as $106.86 in early trade.<\/p>\n<p class=\"paragraph_paragraph___QITb\">&#8220;<b>The price has since reversed lower to be trading around $102.10 (-0.77%)<\/b>, following headlines that President Trump has told aides he is <a class=\"Link_link__5eL5m ScreenReaderOnly_srLinkHint__OysWz Link_showVisited__C1Fea Link_showFocus__ALyv2\" href=\"https:\/\/www.wsj.com\/world\/middle-east\/trump-iran-war-strait-of-hormuz-ee950ad4\" data-component=\"Link\" rel=\"nofollow noopener\" target=\"_blank\">willing to end the US military campaign against Iran<\/a> even if the Strait of Hormuz remains largely closed.&#8221;<\/p>\n<\/blockquote>\n<p class=\"paragraph_paragraph___QITb\">Mr Sycamore says this latest sign of de-escalation comes as US retail gasoline prices have climbed above $4 per gallon for the first time since August 2022. These rising gas prices have coincided with a sharp decline in Trump\u2019s approval rating, which now sits around 36%.<\/p>\n<p class=\"paragraph_paragraph___QITb\">He says while markets will &#8220;no doubt debate the merits of this latest de-escalation,&#8221; it also pays to keep in mind a recent tweet from Iran\u2019s Parliament Speaker Mohammad Bagher Ghalibaf. Referring to the US administration, he said: &#8220;If they pump it, short it. If they dump it, go long.&#8221;<\/p>\n<p class=\"paragraph_paragraph___QITb\">He also says if Trump decides to wind down the war but defers the reopening of the Strait of Hormuz, <b>it will also leave a critical chokepoint firmly in Tehran\u2019s hands for the foreseeable future, and that will have consequence for uncertainty<\/b>.<\/p>\n<blockquote class=\"Blockquote_blockquote__YVWQm ContentAlignment_marginBottom__4H_6E ContentAlignment_overflowAuto__c1_IL\" data-component=\"Blockquote\">\n<p class=\"paragraph_paragraph___QITb\">&#8220;Unfortunately, this also pushes back any concrete resolution regarding the strait&#8217;s reopening, effectively extending the uncertainty weighing on markets and the broader global economy,&#8221; he says.<\/p>\n<\/blockquote>\n<p>2h agoTue 31 Mar 2026 at 3:40am<\/p>\n<p>Market snapshot<img decoding=\"async\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/03\/lcimg-87cde6b7-d126-4816-beb6-ae7b0a365d2c.jpeg\" alt=\"Jason Dasey profile image\" class=\"Avatar_avatarImage__f1Jjg\" style=\"display:none\"\/><\/p>\n<ul class=\"ContentAlignment_marginBottom__4H_6E ContentAlignment_overflowVisible__N2zKU\">\n<li><b>ASX 200<\/b>: +0.79% to 8,528 points (live figures blow)<\/li>\n<li><b>Australian dollar<\/b>: Flat at 68.50 US cents<\/li>\n<li><b>Wall Street<\/b>: Dow Jones (+0.1%), S&amp;P 500 (-0.2%)<\/li>\n<li><b>Europe<\/b>: FTSE (+1.6%)<\/li>\n<li><b>Asia<\/b>: Nikkei (-0.2%), KOSPI (-2.8%), Hang Seng (-0.4%)<\/li>\n<li><b>Spot gold<\/b>: +1.1% to $US4,560\/ounce<\/li>\n<li><b>Spot silver<\/b>: +2.8% to $US71.94\/ounce<\/li>\n<li><b>Oil (Brent crude)<\/b>: -0.7% at $US111.95\/barrel<\/li>\n<li><b>Iron ore<\/b>: -0.04% at $US106.32\/tonne<\/li>\n<li><b>Bitcoin<\/b>: +1.6% at $US67,797<\/li>\n<\/ul>\n<p class=\"paragraph_paragraph___QITb\">Price current around 2:40pm AEDT<\/p>\n<p>2h agoTue 31 Mar 2026 at 3:38amNT government revives 1940s law in bid to combat fuel price gouging<img decoding=\"async\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/03\/lcimg-f36b83a2-46d0-4bf4-8c37-dc028268654e.png\" alt=\"Gareth Hutchens profile image\" class=\"Avatar_avatarImage__f1Jjg\" style=\"display:none\"\/><\/p>\n<p class=\"paragraph_paragraph___QITb\">Our ABC colleague Matt Garrick is reporting that the<b> Northern Territory government <\/b>has triggered a 77-year-old law to force <b>fuel retailers<\/b> to provide their <b>&#8220;full cost structure&#8221; to prove they are not ripping off motorists.<\/b><\/p>\n<p class=\"paragraph_paragraph___QITb\">He says NT Treasurer Bill Yan said it was the first time the <b>Price Exploitation Prevention Act<\/b> had been used since its inception in 1949 and was an &#8220;unprecedented move to manage the ongoing fuel crisis&#8221;.<\/p>\n<p class=\"paragraph_paragraph___QITb\">Here is the breaking story below:<\/p>\n<p>2h agoTue 31 Mar 2026 at 3:35am<\/p>\n<p>China can absorb &#8216;shock of rising oil prices&#8217;<img decoding=\"async\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/03\/lcimg-87cde6b7-d126-4816-beb6-ae7b0a365d2c.jpeg\" alt=\"Jason Dasey profile image\" class=\"Avatar_avatarImage__f1Jjg\" style=\"display:none\"\/><\/p>\n<p class=\"paragraph_paragraph___QITb\"><b>Imported inflation will put pressure on China&#8217;s economy<\/b>, but the country has policy room to absorb the shock from rising oil prices if the Middle East conflict ends soon, <b>Chinese central bank adviser Huang Yiping<\/b> said on Tuesday.<\/p>\n<p class=\"paragraph_paragraph___QITb\">But Huang told media at a meeting in Beijing that he was concerned about the shock to companies&#8217; profitability from rising oil prices.<\/p>\n<p class=\"paragraph_paragraph___QITb\">He added that the squeeze would be adverse for the real economy.<\/p>\n<p class=\"paragraph_paragraph___QITb\">Huang is a member of the monetary policy committee at the <b>People&#8217;s Bank of China<\/b>.<\/p>\n<p class=\"paragraph_paragraph___QITb\"><b>With reporting by Reuters<\/b><\/p>\n<p>2h agoTue 31 Mar 2026 at 3:21am<\/p>\n<p>Interest rate cuts late this year are possible: Economist<img decoding=\"async\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/06\/lcimg-4b155f50-d1aa-4dad-99fe-239e1f9416e7.jpeg\" alt=\"Michael Janda profile image\" class=\"Avatar_avatarImage__f1Jjg\" style=\"display:none\"\/><\/p>\n<p class=\"paragraph_paragraph___QITb\"><b>CBA\u2019s chief economist Luke Yeaman<\/b> says <b>interest rate cuts<\/b> late this year or next year are possible, <b>if Australia\u2019s economy stagnates<\/b> under the weight of rising oil prices and recent rate rises.<\/p>\n<p class=\"paragraph_paragraph___QITb\"> However, he still thinks further rate rises are likely in the short term as the bank deals with the<b> inflation increase<\/b> generated by surging energy costs.<\/p>\n<p class=\"paragraph_paragraph___QITb\">CBA&#8217;s base case forecast is currently for one more rate rise this year to 4.35%, then two rate cuts next year taking the cash rate back to 3.85%.<\/p>\n<p>2h agoTue 31 Mar 2026 at 3:19amRBA board minutes, rising inflation, and deteriorating consumer confidence<img decoding=\"async\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/03\/lcimg-f36b83a2-46d0-4bf4-8c37-dc028268654e.png\" alt=\"Gareth Hutchens profile image\" class=\"Avatar_avatarImage__f1Jjg\" style=\"display:none\"\/><\/p>\n<p class=\"paragraph_paragraph___QITb\">The <b>minutes <\/b>of the <b>Reserve Bank&#8217;s board meeting<\/b> from <b>16-17 March<\/b>\u00a0were released this morning.<\/p>\n<p class=\"paragraph_paragraph___QITb\"><b>Adam Boyton, head of Australian economics at ANZ Bank<\/b>, says it appears from the minutes that there were <b>two decisions<\/b> that<br \/>\nthe Board had in front of them at the meeting.<\/p>\n<ul class=\"ContentAlignment_marginBottom__4H_6E ContentAlignment_overflowVisible__N2zKU\">\n<li>The first was whether interest rates needed to be increased in the near-term.<\/li>\n<li>And, having agreed that some near-term tightening in interest rates was likely required, members of the RBA then considered whether than should begin immediately or in the near future.<\/li>\n<\/ul>\n<p class=\"paragraph_paragraph___QITb\">He says the decision about tightening rates in March was then the source of the 5-4 vote by the Board (in<br \/>\nfavour of tightening).<\/p>\n<p class=\"paragraph_paragraph___QITb\">He says minutes suggest that<b> the RBA Board also appears to be trying to stay on the<\/b> \u2018<b>narrow path<\/b>\u2019 (although he adds the &#8220;crucial caveat&#8221; that that is as long as longer-term inflation expectations remain anchored), with the<br \/>\nminutes noting that \u201cfuture policy decisions would require the Board to balance its two objectives<br \/>\ncarefully\u201d.<\/p>\n<p class=\"paragraph_paragraph___QITb\">He says the minutes also provide no forward guidance, which suggests that the Board does not have a pre-conceived view on a likely<br \/>\npath for the cash rate.<\/p>\n<p class=\"paragraph_paragraph___QITb\">Mr Boyton then notes how economic and financial conditions have deteriorated in the two weeks since the RBA Board meeting was held, and what it could mean for interest rates this year:<\/p>\n<blockquote class=\"Blockquote_blockquote__YVWQm ContentAlignment_marginBottom__4H_6E ContentAlignment_overflowAuto__c1_IL\" data-component=\"Blockquote\">\n<p class=\"paragraph_paragraph___QITb\">&#8220;Since the March meeting there have been a range of developments,&#8221; he says.<\/p>\n<p class=\"paragraph_paragraph___QITb\">&#8220;The unemployment rate<br \/>\nhas risen back to 4.3%, ANZ Roy-Morgan Consumer Confidence has shown pronounced<br \/>\nweakness, and energy prices have risen further.<\/p>\n<p class=\"paragraph_paragraph___QITb\">&#8220;With respect to our broader views the net of<br \/>\nthe most recent increases in fuel prices, the three-month reduction in excise, and the<br \/>\nongoing volatility in oil prices, suggest little reason for us to change our forecast that the Q2<br \/>\nheadline CPI will print at 4.9% y\/y and that real household incomes will end 2026 lower than<br \/>\nthey started.<\/p>\n<p class=\"paragraph_paragraph___QITb\">&#8220;As a result, we also continue to expect that there will be sufficient signs of<br \/>\nweakness in demand for the RBA to leave the cash rate at 4.35% after an increase at the<br \/>\nMay meeting.&#8221;<\/p>\n<\/blockquote>\n<p class=\"paragraph_paragraph___QITb\">You can read the minutes of the RBA Board meeting here:<\/p>\n<p>2h agoTue 31 Mar 2026 at 3:11am<\/p>\n<p>The recent behaviour of petrol prices<img decoding=\"async\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/03\/lcimg-f36b83a2-46d0-4bf4-8c37-dc028268654e.png\" alt=\"Gareth Hutchens profile image\" class=\"Avatar_avatarImage__f1Jjg\" style=\"display:none\"\/><\/p>\n<blockquote class=\"Blockquote_blockquote__YVWQm ContentAlignment_marginBottom__4H_6E ContentAlignment_overflowAuto__c1_IL\" data-component=\"Blockquote\">\n<p class=\"paragraph_paragraph___QITb\"> I find it ironic that the ACCC can accept that the fuel excise cut can be &#8220;largely&#8221; passed onto motorists with a six-week lag due to the way fuel is priced, (which makes complete sense as it flows through the system), but it is also completely accepted that the price of fuel can shoot up on the same day that &#8220;expectations&#8221; change despite the fact that that fuel has been in storage for however long&#8230; <\/p>\n<p class=\"paragraph_paragraph___QITb\"><strong>&#8211; Matt<\/strong><\/p>\n<\/blockquote>\n<blockquote class=\"Blockquote_blockquote__YVWQm ContentAlignment_marginBottom__4H_6E ContentAlignment_overflowAuto__c1_IL\" data-component=\"Blockquote\">\n<p class=\"paragraph_paragraph___QITb\"> I noticed in Daniel\u2019s post that the fuel excise cut will flow through in around 6 weeks as the ACCC says this is how fuel is priced, yet when the bombs started dropping on Tehran fuel prices spiked immediately. Is this another example of the new buzz word \u201casymmetric warfare\u201d?<\/p>\n<p class=\"paragraph_paragraph___QITb\"><strong>&#8211; Alphone<\/strong><\/p>\n<\/blockquote>\n<p class=\"paragraph_paragraph___QITb\">Thanks for your comments, Matt and Alphone.<\/p>\n<p class=\"paragraph_paragraph___QITb\">A couple of weeks ago, when Dan Ziffer and I spoke to <b>Peter Khoury, the head of media at the NRMA<\/b>, <a class=\"Link_link__5eL5m ScreenReaderOnly_srLinkHint__OysWz Link_showVisited__C1Fea Link_showFocus__ALyv2\" href=\"https:\/\/www.abc.net.au\/news\/2026-03-16\/fuel-rationing-on-the-horizon-in-australia-if-iran-war-continues\/106452562\" data-component=\"Link\" rel=\"nofollow noopener\" target=\"_blank\">for this piece<\/a>, Mr Khoury raised a similar point about how quickly fuel prices have shot higher in Australia.<\/p>\n<p class=\"paragraph_paragraph___QITb\">He said half of the service stations in Australia&#8217;s three biggest cities were already at the high point of their price cycles in February, and they were supposed to start falling, but then the war in the Middle East began and they immediately started putting their prices up further, and that led to prices being higher than they needed to be.<\/p>\n<p class=\"paragraph_paragraph___QITb\">He said he believed that contributed to the panic buying that we saw in Australia, because fuel prices in our three biggest capital cities were going up &#8220;a lot higher, and a lot quicker, than they should have&#8221;.<\/p>\n<p>2h agoTue 31 Mar 2026 at 3:02am<\/p>\n<p>ASIC complaint lodged against APA Group<img decoding=\"async\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/03\/lcimg-87cde6b7-d126-4816-beb6-ae7b0a365d2c.jpeg\" alt=\"Jason Dasey profile image\" class=\"Avatar_avatarImage__f1Jjg\" style=\"display:none\"\/><\/p>\n<p class=\"paragraph_paragraph___QITb\"><b>APA Group<\/b>, Australia&#8217;s largest gas pipeline\u00a0operator, has had a complaint lodged against it at <b>ASIC<\/b>.<\/p>\n<p class=\"paragraph_paragraph___QITb\"><b>Equity Generation Lawyers (EGL) and Market Forces<\/b> are accusing the APA Group of &#8220;misrepresenting the costs, scale and financial viability of producing fracked gas in<b> the Beetaloo Basin, Northern Territory<\/b>&#8220;.<\/p>\n<p class=\"paragraph_paragraph___QITb\">Their report, Pipeline to Nowhere, claims that fracking the Beetaloo sub-Basin would\u00a0<strong>produce nearly 9.5 times the entire gas required<\/strong>\u00a0<b>for Australia\u2019s National Electricity Market<\/b>\u00a0<strong>for the next 25 years.<\/strong><\/p>\n<p class=\"paragraph_paragraph___QITb\">They say it would take the market <b>237 years <\/b>to use this much gas\u00a0despite<b> Australia\u2019s net-zero by 2050 commitment.<\/b><\/p>\n<blockquote class=\"Blockquote_blockquote__YVWQm ContentAlignment_marginBottom__4H_6E ContentAlignment_overflowAuto__c1_IL\" data-component=\"Blockquote\">\n<p class=\"paragraph_paragraph___QITb\">&#8220;We are urging ASIC to investigate how APA misled investors about the size of the gas resource in the Beetaloo Basin and why the company misrepresented the costs of producing the gas,&#8221; said Kyle Robertson, Head of Research, Market Forces.<\/p>\n<\/blockquote>\n<p>3h agoTue 31 Mar 2026 at 2:50am<\/p>\n<p>Rising gas prices to push electricity prices higher: CBA<img decoding=\"async\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/06\/lcimg-4b155f50-d1aa-4dad-99fe-239e1f9416e7.jpeg\" alt=\"Michael Janda profile image\" class=\"Avatar_avatarImage__f1Jjg\" style=\"display:none\"\/><\/p>\n<p class=\"paragraph_paragraph___QITb\"><b>CBA\u2019s head of currency strategy Joseph Capurso<\/b> says Australia is unlikely to have ongoing fuel shortages because we are a rich country that can afford to pay more to secure supplies on the global market.<\/p>\n<p class=\"paragraph_paragraph___QITb\"> He believes <b>poorer nations are likely to bear the brunt of fuel shortages<\/b>.<\/p>\n<p class=\"paragraph_paragraph___QITb\"> However, he also warns that <b>rising gas prices are likely to push Australian electricity prices higher again this year<\/b>, with flow on implications for inflation.<\/p>\n<p class=\"paragraph_paragraph___QITb\"> Joe Capurso was speaking at a roadshow hosted by <b>CBA\u2019s economics team<\/b>.<\/p>\n<p>3h agoTue 31 Mar 2026 at 2:39am<\/p>\n<p>What brought on the challenge to youth pay rates?<img decoding=\"async\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2026\/03\/lcimg-f36b83a2-46d0-4bf4-8c37-dc028268654e.png\" alt=\"Gareth Hutchens profile image\" class=\"Avatar_avatarImage__f1Jjg\" style=\"display:none\"\/><\/p>\n<blockquote class=\"Blockquote_blockquote__YVWQm ContentAlignment_marginBottom__4H_6E ContentAlignment_overflowAuto__c1_IL\" data-component=\"Blockquote\">\n<p class=\"paragraph_paragraph___QITb\"> I am a bit behind &#8211; What was it that has brought on this challenge of youth pay rates with the fair work commission?<\/p>\n<p class=\"paragraph_paragraph___QITb\"><strong>&#8211; James<\/strong><\/p>\n<\/blockquote>\n<p class=\"paragraph_paragraph___QITb\">Hi James,<\/p>\n<p class=\"paragraph_paragraph___QITb\">On 6 June 2024, the <b>Shop, Distributive and Allied Employees\u2019 Association (SDA) <\/b>applied to change junior rates.<\/p>\n<p class=\"paragraph_paragraph___QITb\">They sought to increase rates of pay for employees aged 20 years old and under in the following 3 awards:<\/p>\n<ul class=\"ContentAlignment_marginBottom__4H_6E ContentAlignment_overflowVisible__N2zKU\">\n<li>Fast Food Industry Award 2020<\/li>\n<li>General Retail Industry Award 2020<\/li>\n<li>Pharmacy Industry Award 2020<\/li>\n<\/ul>\n<p class=\"paragraph_paragraph___QITb\">You can read the SDA&#8217;s <a class=\"Link_link__5eL5m ScreenReaderOnly_srLinkHint__OysWz Link_showVisited__C1Fea Link_showFocus__ALyv2\" href=\"https:\/\/www.fwc.gov.au\/documents\/sites\/am2024-24\/am202424-f46-sda-2024-06-06.pdf\" data-component=\"Link\" rel=\"nofollow noopener\" target=\"_blank\">original application here<\/a>.<\/p>\n<p class=\"paragraph_paragraph___QITb\">Part of the SDA&#8217;s argument was that the nature of the work that certain junior workers performed was appreciably the same as that performed by similar employees who were over 21 years of age. In other instances, it argued that some junior workers were performing supervisory and managerial roles, including by supervising workers who were older than them. Those were just two of many arguments.<\/p>\n<p class=\"paragraph_paragraph___QITb\">In today&#8217;s announcement, <b>the Full Bench has decided that<\/b>:<\/p>\n<ul class=\"ContentAlignment_marginBottom__4H_6E ContentAlignment_overflowVisible__N2zKU\">\n<li>after 6 months\u2019 experience, the rates payable to adult junior employees will be set at a rate of 100% of the full adult rate of pay<\/li>\n<li>the current percentage rates for adult junior employees with less than 6 months\u2019 experience with their current employer will stay the same<\/li>\n<li>there will be no change to junior rates for persons aged under 18.<\/li>\n<\/ul>\n<p class=\"paragraph_paragraph___QITb\"><b>Next steps:<\/b><\/p>\n<p class=\"paragraph_paragraph___QITb\">The Full Bench will hear from the parties further on the timing and transitional arrangements. Their provisional view is that the changes will be phased in over time starting from 1 December 2026, with the final changes to happen from 1 July 2029.<\/p>\n<p>3h agoTue 31 Mar 2026 at 2:37amAustralian economic growth tipped to slow by 1%<img decoding=\"async\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/06\/lcimg-4b155f50-d1aa-4dad-99fe-239e1f9416e7.jpeg\" alt=\"Michael Janda profile image\" class=\"Avatar_avatarImage__f1Jjg\" style=\"display:none\"\/><\/p>\n<p class=\"paragraph_paragraph___QITb\"><b>CBA&#8217;s head of Australian economics Belinda Allen <\/b>expects Australian economic growth to slow from <b>2.6 to 1.6%<\/b>, annually.<\/p>\n<p class=\"paragraph_paragraph___QITb\">She said households will bear the brunt of that slowdown, with business investment and government spending expected to remain solid.<\/p>\n<p class=\"paragraph_paragraph___QITb\">Ms Allen expects <b>household income growth<\/b> to slow down from current levels around <b>5 per cent per annum to just 1 per cent<\/b>, although she believes many households will dip into savings to fund their consumption.<\/p>\n<p class=\"paragraph_paragraph___QITb\">She says CBA&#8217;s card spending data shows household spending has held up relatively well so far.<\/p>\n<p class=\"paragraph_paragraph___QITb\"><b>CBA is expecting another rate increase in May<\/b> but, unlike Westpac&#8217;s economists, Ms Allen says further rate hikes remain very uncertain given existing division in the board.<\/p>\n<p class=\"paragraph_paragraph___QITb\">CBA is only forecasting one more rate rise, with <b>two rate cuts tipped for next year<\/b> as the economy slows and inflation cools.<\/p>\n","protected":false},"excerpt":{"rendered":"36m agoTue 31 Mar 2026 at 5:19amMarket snapshot ASX 200: +0.25% to 8,481.8 points (live figures blow) Australian&hellip;\n","protected":false},"author":3,"featured_media":694139,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[12],"tags":[17705,17707,7566,64,9400,79,1698,17711,17708,17706,67,132,68,3642],"class_list":["post-694138","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-asx","tag-australian-dollar","tag-bitcoin","tag-business","tag-dow-jones","tag-economy","tag-live-blog","tag-live-update","tag-nyse","tag-share-market","tag-united-states","tag-unitedstates","tag-us","tag-wall-street"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/116322247904384891","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/694138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=694138"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/694138\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/694139"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=694138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=694138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=694138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}