1
00:00:03,840 --> 00:00:06,800
Speaker 1: It's Thursday, the first of May twenty twenty five. Welcome

2
00:00:06,840 --> 00:00:09,200
Speaker 1: to the Fast five Business News by Fear and Greed,

3
00:00:09,240 --> 00:00:11,040
Speaker 1: where we give you the top five business stories you

4
00:00:11,080 --> 00:00:13,400
Speaker 1: need to know in just five minutes. O'm Michael Thompson

5
00:00:13,440 --> 00:00:14,400
Speaker 1: and good morning.

6
00:00:14,160 --> 00:00:16,160
Speaker 2: Sean Aylmak, Good morning Michael Shawan.

7
00:00:16,239 --> 00:00:18,400
Speaker 1: Five big stories to get through in just five minutes,

8
00:00:18,400 --> 00:00:20,320
Speaker 1: so we better get cracking. Story number one. A rate

9
00:00:20,440 --> 00:00:23,880
Speaker 1: cut is expected in three weeks after March quarter inflation

10
00:00:23,960 --> 00:00:27,120
Speaker 1: figures show that annual price rises are now back below

11
00:00:27,200 --> 00:00:30,520
Speaker 1: three percent, but SEAN economists have warned that there might

12
00:00:30,560 --> 00:00:32,960
Speaker 1: only be two more rate cuts this year, not four

13
00:00:33,479 --> 00:00:34,520
Speaker 1: as many had hoped.

14
00:00:34,600 --> 00:00:37,240
Speaker 2: The Reserve banks preferred measure of inflation is now below

15
00:00:37,280 --> 00:00:39,440
Speaker 2: three percent. That's the good news. The bad news is

16
00:00:39,440 --> 00:00:41,440
Speaker 2: that inflation over the quarter was just a touch higher

17
00:00:41,520 --> 00:00:45,520
Speaker 2: than forecast, probably not enough to prevent a rate cut

18
00:00:45,560 --> 00:00:48,360
Speaker 2: on twenty May. Headline inflation over the three months zero

19
00:00:48,440 --> 00:00:51,120
Speaker 2: point nine percent, for the full year two point four percent,

20
00:00:51,280 --> 00:00:54,200
Speaker 2: The all important underlying inflation zero point seven percent and

21
00:00:54,240 --> 00:00:56,560
Speaker 2: two point nine percent over the year. If you just

22
00:00:56,600 --> 00:00:58,480
Speaker 2: look at the last six months of underlying inflation, it's

23
00:00:58,480 --> 00:01:01,080
Speaker 2: about two and a half percent, so that does augur

24
00:01:01,160 --> 00:01:04,600
Speaker 2: well for a rate cut. The my main price pressures

25
00:01:04,640 --> 00:01:08,040
Speaker 2: came from food. It was actually the first time headline

26
00:01:08,040 --> 00:01:10,959
Speaker 2: and underlying inflation has been Both of them have been

27
00:01:11,000 --> 00:01:13,199
Speaker 2: in the target two to three percent range since twenty

28
00:01:13,280 --> 00:01:14,640
Speaker 2: twenty one.

29
00:01:15,000 --> 00:01:17,720
Speaker 1: So why then, sean, will we get a rate cut

30
00:01:17,760 --> 00:01:19,640
Speaker 1: if things seem to be in pretty good balance at

31
00:01:19,640 --> 00:01:20,000
Speaker 1: the moment.

32
00:01:20,840 --> 00:01:23,960
Speaker 2: So economic growth is still sluggish, consumer and business sentiments

33
00:01:23,959 --> 00:01:26,920
Speaker 2: still poor, and plenty of risks from the Trump trade war.

34
00:01:27,319 --> 00:01:29,720
Speaker 2: There are risks on the inflation side as well, particularly

35
00:01:29,720 --> 00:01:33,160
Speaker 2: around services, inflation, education, insurance, that type of stuff. But

36
00:01:33,240 --> 00:01:36,120
Speaker 2: we are likely to get a cut in May. The

37
00:01:36,240 --> 00:01:38,399
Speaker 2: risks that I just mentioned means that the Reserve Bank

38
00:01:38,440 --> 00:01:41,120
Speaker 2: won't be a bill at again. Many economists reckon, there'll

39
00:01:41,160 --> 00:01:42,440
Speaker 2: just be two cuts this year.

40
00:01:42,680 --> 00:01:45,119
Speaker 1: Okay, moving on to story number two. Any cut in

41
00:01:45,120 --> 00:01:47,919
Speaker 1: interest rates is likely to help the local housing market.

42
00:01:47,960 --> 00:01:51,600
Speaker 1: Totality figures released today show that house prices across the

43
00:01:51,640 --> 00:01:54,680
Speaker 1: country rose for the third straight month in April, with

44
00:01:54,840 --> 00:01:57,720
Speaker 1: twenty seven hundred and twenty dollars added to the median

45
00:01:57,840 --> 00:01:58,680
Speaker 1: value of a home.

46
00:01:58,840 --> 00:02:01,800
Speaker 2: In fact, there was a lift in values recorded across

47
00:02:01,840 --> 00:02:05,360
Speaker 2: every capital city from zero point two percent in Sydney

48
00:02:05,360 --> 00:02:08,240
Speaker 2: and Melbourne to more than one percent in Darwin. Despite

49
00:02:08,360 --> 00:02:12,400
Speaker 2: stretched housing affordability, house values arising faster than units Now

50
00:02:12,440 --> 00:02:15,760
Speaker 2: regional housing values are doing even better than the capitals.

51
00:02:16,000 --> 00:02:19,040
Speaker 2: Over the past twelve months. Dwelling values fell two point

52
00:02:19,080 --> 00:02:22,200
Speaker 2: two percent in Melbourne, down zero point six percent in Canberra,

53
00:02:22,720 --> 00:02:26,600
Speaker 2: up about one percent in Sydney, Perth, Adelaide Brison by

54
00:02:26,680 --> 00:02:29,000
Speaker 2: far the best performers that sort of eight nine, ten

55
00:02:29,040 --> 00:02:29,840
Speaker 2: percent range.

56
00:02:29,919 --> 00:02:32,160
Speaker 1: Story number three. We are in the last days of

57
00:02:32,240 --> 00:02:35,680
Speaker 1: campaigning for the federal election. All the big announcements have

58
00:02:35,800 --> 00:02:38,240
Speaker 1: pretty much been made and correct me if I'm wrong, Sean,

59
00:02:38,360 --> 00:02:40,040
Speaker 1: but it feels like the leaders of the party is

60
00:02:40,200 --> 00:02:42,520
Speaker 1: just at this stage doing their best not to lose votes.

61
00:02:42,760 --> 00:02:46,040
Speaker 2: I think that's right. Prime Minister Anthony Alberanezi and oppositionally

62
00:02:46,080 --> 00:02:50,080
Speaker 2: to Peter Dunton are visiting electrics across the country desperate

63
00:02:50,080 --> 00:02:53,040
Speaker 2: for those final votes. Albanezi appeared at the National Press

64
00:02:53,040 --> 00:02:56,680
Speaker 2: Club yesterday. Peter Dutton appeed at his fifteenth service station

65
00:02:57,120 --> 00:02:59,960
Speaker 2: for the campaign at the Press Club in Canberra. The

66
00:03:00,000 --> 00:03:02,200
Speaker 2: Try Minister said the election was a choice between two

67
00:03:02,240 --> 00:03:06,560
Speaker 2: fundamentally different visions for the direction Australia should go. It's

68
00:03:06,600 --> 00:03:09,640
Speaker 2: typical of both campaigns at the moment, fairly aggressive attacking

69
00:03:09,680 --> 00:03:12,520
Speaker 2: the other side. Now more than four million people have

70
00:03:12,639 --> 00:03:15,360
Speaker 2: already voted. That's about twenty two percent of the environment

71
00:03:15,840 --> 00:03:18,200
Speaker 2: and with two days to go, momentum is definitely with

72
00:03:18,280 --> 00:03:18,760
Speaker 2: the ALP.

73
00:03:19,240 --> 00:03:22,840
Speaker 1: Story number four. Coal's Supermarkets has boosted sales to ten

74
00:03:22,880 --> 00:03:25,520
Speaker 1: point four billion dollars for the March quarter as it

75
00:03:25,560 --> 00:03:28,440
Speaker 1: continues to outperform as art rival Woolies.

76
00:03:28,639 --> 00:03:31,120
Speaker 2: So one way to judge who is winning the supermarket

77
00:03:31,200 --> 00:03:33,200
Speaker 2: wars is look at the share price. Woolies is down

78
00:03:33,320 --> 00:03:35,680
Speaker 2: one percent over the past twelve months, Coals is up

79
00:03:35,840 --> 00:03:40,440
Speaker 2: thirty percent. Cole's CEO Leo Weickett said cost of living

80
00:03:40,440 --> 00:03:45,400
Speaker 2: pressures are evident in sales. Home brands, including more expensive products,

81
00:03:45,680 --> 00:03:49,160
Speaker 2: are doing really really well. Promotions and discounts are still working.

82
00:03:49,280 --> 00:03:52,200
Speaker 2: Coals has opted for fewer deeper discounts on products that

83
00:03:52,320 --> 00:03:55,440
Speaker 2: might discount something by forty percent but have fewer products

84
00:03:55,440 --> 00:03:59,160
Speaker 2: on sale. Its e commerce channel is also doing really

85
00:03:59,200 --> 00:04:02,400
Speaker 2: well now accounts about eleven percent of sales. Willies will

86
00:04:02,440 --> 00:04:03,640
Speaker 2: report its numbers today.

87
00:04:03,840 --> 00:04:06,600
Speaker 1: Last one story number five, Donald Trump has marked one

88
00:04:06,680 --> 00:04:10,000
Speaker 1: hundred days in office by holding the biggest rally since

89
00:04:10,040 --> 00:04:12,200
Speaker 1: his election. He held it in Michigan, which is the

90
00:04:12,240 --> 00:04:15,520
Speaker 1: home of automaking in the US, and he continued his

91
00:04:15,640 --> 00:04:20,760
Speaker 1: tirades on immigration. His predecessor and the Federal Reserve chair.

92
00:04:21,080 --> 00:04:23,040
Speaker 2: Is he had a crack at hout Jay Biden appears

93
00:04:23,080 --> 00:04:27,320
Speaker 2: in a bathing suit, and also questioned his mental acuity.

94
00:04:27,839 --> 00:04:30,000
Speaker 2: He repeated that he won the twenty twenty election even

95
00:04:30,000 --> 00:04:32,400
Speaker 2: though he didn't, and he was critical of news coverage

96
00:04:32,480 --> 00:04:34,479
Speaker 2: not favorable to him. On the Fed, he said, and

97
00:04:34,520 --> 00:04:37,440
Speaker 2: I quate inflation is basically down, and interest rates came

98
00:04:37,640 --> 00:04:40,680
Speaker 2: down despite the fact I have a FED person who's

99
00:04:40,760 --> 00:04:44,080
Speaker 2: not really doing a good job. He of course was

100
00:04:44,160 --> 00:04:44,880
Speaker 2: referring to J.

101
00:04:45,080 --> 00:04:45,520
Speaker 1: Powell.

102
00:04:45,640 --> 00:04:48,720
Speaker 2: Trump said he knew more about interest rates than mister Powell.

103
00:04:48,920 --> 00:04:52,200
Speaker 2: Trump also returned to immigration, his signature issue, boasting about

104
00:04:52,200 --> 00:04:55,680
Speaker 2: his administration's mass deportation efforts that have sent arrests for

105
00:04:55,839 --> 00:04:59,120
Speaker 2: legal crossings along the US Mexico border plummeting.

106
00:04:59,400 --> 00:05:01,560
Speaker 1: All right to go the top five business stories in

107
00:05:01,640 --> 00:05:04,040
Speaker 1: five minutes. Thank you, Sean, Thank you Michael. It is Thursday,

108
00:05:04,080 --> 00:05:06,680
Speaker 1: the first of May twenty twenty five, remembered hit follow

109
00:05:06,760 --> 00:05:08,920
Speaker 1: on the podcast, and if five minutes isn't enough, you

110
00:05:08,960 --> 00:05:11,559
Speaker 1: can find our longer daily show called Fear and Greed

111
00:05:11,880 --> 00:05:14,680
Speaker 1: whereever you listen to podcasts, or head along to Fearangreed

112
00:05:14,720 --> 00:05:16,640
Speaker 1: dot com dot au, which is also where you sign

113
00:05:16,720 --> 00:05:19,760
Speaker 1: up for our free daily newsletter Michael Thompson. And that

114
00:05:19,920 --> 00:05:22,320
Speaker 1: was the fast five business news by Fear and Greed.

115
00:05:22,640 --> 00:05:23,320
Speaker 1: Have a great day.