Australia

World watches first teen social media ban kick off in Australia

Policymakers in Indonesia, Denmark, Brazil and other nations are also moving to rein in Big Tech

A notification from Snapchat requesting age verification as a law banning social media for users under 16 in Australia takes effect on Dec 10.

Australia social media ban set to take effect, sparking a global crackdown

It begins a live experiment studied by lawmakers frustrated by the slow enforcement of harm-minimisation efforts

Michele Bullock, governor of the Reserve Bank of Australia (RBA), says: "I don’t think there are interest rate cuts on the horizon for the foreseeable future.”

Australia’s central bank holds rates steady, rules out further cuts

Bond yields spike to a 13-month high after governor Bullock says that price risks have ‘tilted to the upside’

“This wasn’t an easy decision, but it’s the right decision,” Jim Chalmers told reporters in Canberra.

Australia scraps electricity rebates as budget deteriorates

The government looks to rein in spending after large, structural budget deficits

Household spending accounts for more than half of Australia’s economic output and, as a result, is closely watched by policymakers.

Australia household spending surges, boosting RBA hike bets

Money markets are wagering the central bank’s next move will be a hike in 2026

Australian fortunes are underpinned by a pension system on track to become the world’s second-largest after the US.

Goldman, BlackRock rush to fill wealth-advice void in Australia

Global names are racing to expand across the country, drawn by a paradox few markets can match: enormous household wealth coupled with a chronic shortage of financial advisers

The RBA has already cut its estimate of the economy’s potential growth rate to just 2%, effectively lowering Australia’s speed limit.

Australia economic growth disappoints, easing rate-hike bets

Weak productivity means any pickup in demand risks spilling straight into prices

The Australian government says the measure responds to mounting evidence that platforms are failing to do enough to protect children from harmful content.

YouTube says it will comply with Australia’s teen social media ban

The Australian ban is being closely watched by other jurisdictions considering similar age-based measures

The roadmap comes after the government last month said that it would set up an AI Safety Institute in 2026 to help authorities monitor emerging risks and respond to threats.

Australia rolls out AI roadmap, steps back from tougher rules

Global regulators have increasingly raised concerns about misinformation associated with generative AI tools as their use becomes widespread