Rate rise cycle not over yet: Bullock

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Original article by Matthew Cranston, Jack Quail
The Australian – Page: 1 & 5 : 17-Jun-26

Treasurer Jim Chalmers has welcomed the Reserve Bank of Australia’s decision to leave the cash rate on hold at 4.35 per cent. Chalmers has attributed the monetary policy board’s unanimous decision to factors such as the federal government’s "responsible" budget and the US-Iran peace deal. However, RBA governor Michele Bullock has not ruled out further interest rate rises, noting that inflation remains high and the government’s budget tax reforms have resulted in increased uncertainty across the economy. Bullock adds that the RBA expects economic growth to slow but it is not forecasting a recession.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, RESERVE BANK OF AUSTRALIA

Hancock axes hundreds of jobs

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Original article by Mark Di Stefano, Mark Wembridge
The Australian Financial Review – Page: 14 : 17-Jun-26

Hancock Prospecting has declined to comment on the extent of job cuts at its iron ore mines in the Pilbara. However, the private company of billionaire Gina Rinehart is believed to have shed between 300 and 500 jobs, which would comprise up to 10 per cent of its workforce. Sources have confirmed that affected workers were offered generous redundancy packages. Hancock’s Roy Hill and Atlas Iron divisions were merged under the Hancock Iron Ore banner in mid-2025; their consolidation was aimed at streamlining Hancock’s operations across the Pilbara, which comprises the Roy Hill, Sanjiv Ridge, Mount Webber and Miralga mines; the company is also constructing the McPhee Creek mine and hopes to build another mine at Mulga Downs.

CORPORATES
HANCOCK PROSPECTING PTY LTD, ROY HILL HOLDINGS PTY LTD, ATLAS IRON LIMITED, HANCOCK IRON ORE

Strategy of the rebellion: Joyce to take on Chalmers

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Original article by Sarah Ison, Greg Brown
The Australian – Page: 1 & 2 : 17-Jun-26

One Nation leader Pauline Hanson will make her first National Press Club speech today, as the increasingly popular party prepares to allocate portfolios to its team of six MPs and senators. Former deputy prime minister and National Party defector Barnaby Joyce expects to be given the treasury portfolio; Joyce contends that he is best suited to take on Treasurer Jim Chalmers, given that he is a former accountant and served on the expenditure review committee when the Coalition was in office. Meanwhile, independent economist Saul Eslake has called for One Nation have its policies costed by the Parliamentary Budget Office; he says the party’s cost-of-living measures would not help to reduce the underlying inflation rate.

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ONE NATION PARTY, NATIONAL PRESS CLUB (AUSTRALIA), NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE

KPMG referred to national anti-Corruption watchdog

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Original article by David Ross
The Australian – Page: 13 & 19 : 17-Jun-26

Greens senator Barbara Pocock has referred KPMG to the National Anti-Corruption Commission in response to the accounting firm’s audit scandal. Pocock is concerned that KPMG may have breached the Commonwealth Supplier Code of Conduct, while she contends that a temporary ban on new public contracts is inadequate. The three-month ban does not apply to extensions on existing contracts; KPMG holds some $653m worth of public contracts with the federal government. Pocock is a vocal critic of the nation’s four major accounting firms.

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KPMG AUSTRALIA PTY LTD, AUSTRALIA. NATIONAL ANTI-CORRUPTION COMMISSION, AUSTRALIAN GREENS

Pressure to stagger fuel excise increase

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Original article by Matthew Denholm
The Australian – Page: 5 : 17-Jun-26

Prime Minister Anthony Albanese has indicated that the federal government will make a decision on extending the fuel excise reduction next week. The temporary halving of the excise to $0.263 per litre is slated to end on 30 June, and the Australian Trucking Association has called for the full tax to be phased in over three months to avoid a sudden spike in petrol prices. The Australasian Convenience and Petroleum Marketers Association and the ServoPro industry body for independent service station operators also favour reinstating the full tax over a period of time.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN TRUCKING ASSOCIATION LIMITED, AUSTRALASIAN CONVENIENCE AND PETROLEUM MARKETERS ASSOCIATION, SERVPRO

Review puts top bureaucrats’ pay under spotlight

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Original article by Nicola Smith
The Australian Financial Review – Page: 5 : 17-Jun-26

The independent Remuneration Tribunal is undertaking a 14-month review of senior federal public servants’ remuneration packages. It will assess the salaries of the top 26 bureaucrats, whose salaries range from $816,000 to $1,035,690 a year. The tribunal is seeking feedback from the public as to whether their salaries and benefits are "appropriate", and it recently completed the first public consultation phase of the review. Departmental secretaries are entitled to a range of benefits, including domestic airline lounge memberships, business-class airfares and relocation expenses if they do not live in Canberra.

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AUSTRALIA. REMUNERATION TRIBUNAL

Overall Australian unemployment and under-employment at over 3.2 million in May; Real Unemployment at 1.7 million

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Original article by Roy Morgan
Market Research Update – Page: Online : 17-Jun-26

In May 2026, Australian ‘real’ unemployment rose 69,000 to 1,704,000 (10.7% of the workforce, up 0.6%), but under-employment dropped 136,000 to 1,503,000 (down 0.7% to 9.5%). In total, 3.21 million Australians (20.2% of the workforce) were either unemployed or under-employed in May. Roy Morgan estimates the overall workforce size (which adds together the employed and unemployed) at just under 15.9 million in May (15,860,000 to be exact, down 231,000 on a month ago, and representing 67.7% of Australians aged 14+). Employment was down 300,000 to 14,156,000 in May; this was driven by falls in both full-time employment (down 224,000 to 8,921,000) and part-time employment (down 76,000 to 5,235,000. Overall employment represents 60.4% of Australians aged 14+. The May Roy Morgan Unemployment estimates were obtained by surveying an Australia-wide cross section of people aged 14+.

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ROY MORGAN LIMITED

ANZ-Roy Morgan Consumer Confidence is virtually unchanged at 70.7 in mid-June

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Original article by Roy Morgan
Market Research Update – Page: Online : 17-Jun-26

ANZ-Roy Morgan Consumer Confidence was virtually unchanged at 70.7 in mid-June, down 0.1pts from a week ago. However, Consumer Confidence is 14.7pts lower than a year ago (85.4), and just 0.4pts below the 2026 weekly average of 71.1. Analysis by State shows that Consumer Confidence increased in New South Wales, Victoria, and South Australia, but was down in Queensland and Western Australia. Now just 17% of Australians (up 2ppts) say their families are ‘better off’ financially than this time last year, while 54% (down 1ppt) say their families are ‘worse off’. Looking forward, 21% (down 1ppt) of respondents expect their family to be ‘better off’ financially this time next year, while 43% (unchanged) expect to be ‘worse off’. Only 6% (unchanged) of respondents expect ‘good times’ for the Australian economy over the next 12 months, while 46% (up 1ppt) expect ‘bad times’. Meanwhile, 19% (unchanged) of Australians say now is a ‘good time to buy’ major household items, while 44% (down 1ppt) say now is a ‘bad time to buy’.

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ROY MORGAN LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

ARN to pay $15m to sacked shock jock

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Original article by Steve Jackson
The Australian – Page: 2 : 17-Jun-26

ARN Media has struck a deal with Kyle Sandilands to settle legal action over the termination of his contract to co-host the breakfast show on KIIS FM. The listed company has agreed to pay him $5m per annum over three years; he had been seeking $85m in compensation from ARN for ending his 10-year contract to jointly host the ‘Kyle and Jackie O’ show after not much more than a year. Sandilands had been sacked earlier in 2026 over an on-air falling-out with long-running co-host Jackie Henderson, who is in turn seeking $82m in compensation for the loss of her own contract.

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ARN MEDIA LIMITED – ASX A1N, KIIS1065

End of Financial Year (EOFY) sales spending growth stalls as households tighten budgets

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Original article by Roy Morgan
Market Research Update – Page: Online : 16-Jun-26

End of Financial Year sales remain one of Australia’s most significant retail events; however, EOFY spending is forecast to grow by just 1.9 per cent this year – well below inflation. The research from the Australian Retail Council and Roy Morgan shows that around 6.1 million Australians (26%) plan to shop during EOFY sales this year, with total spending expected to reach $10.7bn. The most popular categories this year are clothing, footwear and accessories (34%), household appliances and white goods (15%), and electronics and technology products (12%). Australians aged 35 to 49 are expected to spend an average of $1,464 during the EOFY sales, compared with $1,946 for Australians aged under 35 and $1,993 for those aged 50 to 64. Despite participation remaining steady, around three million Australians who spent during last year’s EOFY sales do not currently plan to participate in 2026. This ARC-Roy Morgan Snap SMS survey was conducted with a nationwide cross-section of 5,276 Australians aged 14+ from 28 May to 1 June.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN RETAIL COUNCIL