Cotality data reveals property prices are now falling in more than 90% of Australian suburbs, while analysts expect market downturn to continue

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The prospect of the steepest property market downturn in history will not stop the Reserve Bank from delivering a fourth interest rate hike as it battles to bring inflation back under control, economists say.

New data from Cotality revealed house prices are now falling in more than 90% of Australian suburbs, amid a perfect storm of higher borrowing costs, a weak economy, and a once-in-a-generation change in the tax treatment of property investors.

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© Photograph: James Ross/AAP

© Photograph: James Ross/AAP

© Photograph: James Ross/AAP

Japan’s finance minister, Satsuki Katayama, is under pressure to strengthen the yen while balancing competing demands from the prime minister and Washington.

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Kevin M. Warsh, the chairman of the Federal Reserve, must soon decide whether to raise interest rates if inflation does not ease, even if it draws President Trump’s ire.

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Warsh's high-profile speech at the Fed's annual Jackson Hole economic conference was mostly praised afterward by economists and other Fed policymakers in attendance. Still, there was also some pushback and criticism during the first day of the conference.

To win in 2024, the president promised an economic course correction. Almost two years later, his agenda has made that fight even harder.

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Federal Reserve Chair Kevin Warsh said there is still work to do on inflation. At the Fed's annual economic symposium in Jackson Hole, Wyoming, Warsh also said that although he is not committed to a rate hike, he is not ruling it out. Amna Nawaz discussed more with Nick Timiraos of The Wall Street Journal.

Kevin Warsh reiterated the Federal Reserve’s commitment to tackle rising prices, nudging up investor expectations of a rate increase.

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However, Kevin Warsh didn’t say if interest rates would change in coming months, as inflation remains stubborn

The US Federal Reserve is not done fighting high inflation, its chair, Kevin Warsh, said in his first major speech in the role on Friday, emphasizing that it was “the Fed’s job to deliver stable prices”.

Warsh did not indicate where the Fed will take interest rates in the coming months, despite US inflation remaining stubbornly above the central bank’s 2% target amid the war in Iran. But his speech was taken by markets as a signal that rates may rise in the coming months, a move that may put him at odds with Donald Trump, who has aggressively called for rates to be cut.

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© Photograph: Natalie Behring/Getty Images

© Photograph: Natalie Behring/Getty Images

© Photograph: Natalie Behring/Getty Images

In a high-profile speech, Kevin M. Warsh said the Federal Reserve was chiefly responsible for taming inflation. If price increases do not return to the central bank’s target quickly, “we have work to do,” he said.

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Investors want Kevin Warsh, the Fed chairman, to address inflation, interest rates and the bond market in a major speech. Some worry he won’t say enough.

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We are approaching a credibility crisis with Scott Bessent and Kevin Warsh leading our economy.

© Nathan Howard/Reuters