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Australia has recorded its first trade deficit in over eight years, with the current account balance plunging to a $27.1 billion deficit in the March quarter.

Australia's labour market showed signs of cooling as the seasonally adjusted unemployment rate rose to 4.5% in April.

Australian Treasurer Jim Chalmers tells Bloomberg TV that the global economy faces a "really dangerous moment" as the Middle East conflict threatens to accelerate inflation and drag on activity.

Australia's trade balance more than doubled in February, soaring by $3.43 billion to reach a seasonally adjusted surplus of $5.67 billion.

Albanese warns of an escalating energy crisis and unveils a $1 billion economic resilience program to support critical Australian industries.

The Australian Council of Trade Unions has launched a high-stakes bid for a 5% increase to the national minimum wage.

Australia has established a national Fuel Supply Taskforce as Middle East conflict threatens imports from Malaysia and South Korea.

The Reserve Bank of Australia raised its key interest rate for a second straight meeting on Tuesday. The central bank's nine-member policy committee split five-to-four in favor of raising the cash rate to 4.1% from 3.85% in its first back-to-back hike since mid-2023. Bloomberg's Mark Cranfield breaks down the situation.