Macro & Policy
BusinessThe latest on Macro & Policy from our Business desk.
October Jobs Report: U.S. Adds 165,000 Jobs as Jobless Spells Lengthen
The U.S. added 165,000 jobs in October and the unemployment rate fell to 4.1%, but the average period without work reached 27.1 weeks. About 2 million people had been unemployed for at least 27 weeks, a group that accounted for 27.6% of jobless workers.
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RBA Trust in Inflation Fight Has Fallen as Rates Reach 18-Year High
Australians are less confident the Reserve Bank can bring inflation down within a year, raising a challenge for households already facing higher borrowing co...
Top Senate race states face steeper gas and grocery costs
Households in several closely contested Senate states are seeing fuel prices rise faster than the national average, while grocery costs take a larger share of monthly income in some areas. The figures add economic pressure for voters on Election Day as candidates compete in races that could determine control of the Senate.
ASIC Warns Super Funds Over Rising Complaints and Enforcement Risk
Australia’s corporate regulator has warned superannuation trustees to improve how they handle member complaints or face possible enforcement action. ASIC found nearly one quarter of 45 trustees examined did not regularly analyse complaints data for systemic problems, while complaints in the sector rose by more than 40 per cent last financial year, according to AFCA.
High street slot farms may avoid new tax via bingo licences
Hundreds of adult gaming centres in England may retain discounted business rates by operating under bingo licences, despite a budget change targeting slot-machine venues. The loophole could weaken the intended effect of the new rules, while lawmakers and a property expert say enforcement and licensing definitions will matter.
Couples in Their Late 70s Face a Plan for Care and Trust
A couple in their late 70s with no children are considering how to arrange help as they age, including who could manage health and financial decisions. A solicitor says they can appoint more than one attorney and may initially choose each other, while professional support and planning resources offer other options.
Australia’s government promise net savings remains uncertain
Finance Minister Katy Gallagher says Australia’s December budget update cannot yet be guaranteed to deliver net savings, as officials continue reviewing spending. Inflation and borrowing costs are adding pressure, while health and aged-care needs are also rising. Gallagher says ministers are working on savings but will not pre-empt decisions still under review.
North East Tourism Tax Plan Draws Pushback From Venues
North East Mayor Kim McGuinness plans to introduce a levy on overnight visitors, saying it would fund major events and create jobs. But venue operators, a rural innkeeper and four councils warn the charge could deter tourists or fail to benefit local businesses. The debate follows tourism levies already operating in Edinburgh and Liverpool.
Labour’s £5,950 VED Charge for Highest-Emission Cars Set to Rise in 2027
A first-year Vehicle Excise Duty bill for the highest-emitting new cars is expected to rise to £5,950 from April 2027, up £260. The increase is part of an inflation-linked adjustment to vehicle tax rates confirmed in the Treasury’s Budget document. Other new-car bands are also set to rise, adding pressure to motorists already facing higher running costs.
Euro zone economy slows to 0.4% growth in third quarter
Euro zone growth eased to 0.4% in the third quarter from 0.6% in the second, Eurostat said, but beat economists’ 0.2% forecast. France’s economy contracted by 0.1%, while Germany grew 0.2% and Italy stagnated. The European Central Bank held rates steady, as analysts warned that elevated energy costs and structural pressures could weigh on households and growth.
UK Side-Hustle Tax-Free Allowance to Rise to £3,000 in 2027
The UK will raise its tax-free trading allowance for side hustles from £1,000 to £3,000 in April 2027. Up to 1.4 million people could benefit, while an estimated 100,000 will no longer need to report trading income to HMRC. The change applies to extra income such as reselling and tutoring, but people selling personal belongings at a loss are treated differently.
European Central Bank Head Lagarde to Resign Early in 2027
Christine Lagarde will leave the European Central Bank on February 7, nine months before her term ends, giving EU leaders time to choose a successor before France's 2027 presidential election. The ECB held rates steady the same day and signaled another hike in December.
UK budget: How “you earn less you” keep shapes reactions
Guardian readers described pressure from housing and employment costs after the UK budget. A London chef said rent and bills now take about half his income, while business owner Graham Robinson reported little left at month’s end despite earning £126,000 last year. Their accounts also highlight the limits of a new homebuying scheme and the costs employers say they face.
Fed Holds Rates at 3.75%-4% as Hammack, Cook Dissent Favoring Hike
The Federal Reserve kept its benchmark rate at 3.75% to 4% on Wednesday in a split vote, five days before the midterm elections. Two officials wanted a hike as new data showed inflation accelerating since last month's increase.
Mortgage Rates Slip as Fed Holds Steady; 30-Year Fixed at 7.14%
Average 30-year mortgage rates fell again on Wednesday, October 28, 2026, as the Federal Reserve closed its October meeting. The central bank held its benchmark rate at 3.75% to 4%, and energy-driven inflation keeps borrowing costs high for households.
Fed Meeting Interest Rates: Hold at 3.75%-4%, Two Dissent
The Federal Reserve left its benchmark rate at 3.75% to 4% on Wednesday, with Governor Lisa Cook and Cleveland Fed President Beth Hammack dissenting in favor of a hike. Chairman Kevin Warsh said inflation remains unfinished business, days before the midterm elections.
Budget 2026: Healey Reduces BADR Limit to £500,000
Chancellor John Healey halved the lifetime limit on Business Asset Disposal Relief from £1m to £500,000 and announced a new 10 per cent Founder's Relief on gains of up to £10m. Tax advisers gave a mixed verdict on the changes.
Cigarettes, alcohol, vapes going up: UK Budget changes
UK Chancellor John Healey confirmed an alcohol-duty increase in the 2026 Budget, with higher rates taking effect on February 1, 2027. The rise adds roughly 2p in duty to a typical pint of beer, while tobacco and vaping taxes had already changed on October 1. Businesses decide how much of the added costs reaches customers.
Stormont Seeks £1.5bn as Ministers Await Westminster Budget Allocation
Stormont ministers are due to learn how much extra spending money the Westminster Budget will provide. Northern Ireland parties say they need about £1.5bn for a workable financial plan, while the UK government has offered an additional £525m this year. The allocation could shape talks on a budget already delayed seven months into the financial year.
China’s families support more older people than children
China’s elderly dependency ratio rose to 23%, above the 22% figure for children, according to official data. The shift comes as more than 223 million people in the country are aged 65 and above, raising pressure on pensions and healthcare while older consumers also contribute to a growing silver economy.
Australia’s Inflation Rate Rises to 4.3%, Rate Hike Looms
Australia's headline inflation accelerated to 4.3%, with the Reserve Bank's preferred underlying gauge at 3.6%. Most economists expect another cash rate increase on November 3, after four hikes this year took the rate to a 15-year high of 4.6%.