Economy 9 March 2026 - 3 April 2026

Westpac Banking Corporation Raises Mortgage Rates Again Before Crucial RBA Call
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Westpac Banking Corporation Raises Mortgage Rates Again Before Crucial RBA Call

Westpac raised fixed home-loan rates by 15 basis points to a minimum of 6.29%, the second hike in three weeks, citing higher funding and inflation risk. The bank also increased term deposit rates, with a 24-month offer up to 5.20%. More than 90% of lenders have lifted at least one fixed rate since the Reserve Bank’s March decision. Westpac shares closed at A$39.01 on Friday, down 0.28%.
April 24, 2026
Ryanair Warns UK Summer Flights Face Jet Fuel Crunch, Cancellations and Higher Fares
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Ryanair Warns UK Summer Flights Face Jet Fuel Crunch, Cancellations and Higher Fares

Ryanair warned it may cancel up to 10% of summer flights if the Iran war keeps disrupting jet fuel markets, as UK route cuts began with Skybus ending its London-Newquay service early. Jet fuel averaged $195 a barrel last week, more than double last year’s price. The IEA said shortages hitting Asia are likely to reach Europe by May. British Airways reported no current supply disruption but is monitoring the situation.
April 3, 2026
Commonwealth Bank of Australia Says Fuel Shock Is Hitting Wallets as RBA Rate Risks Build
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Commonwealth Bank of Australia Says Fuel Shock Is Hitting Wallets as RBA Rate Risks Build

Commonwealth Bank of Australia reported a sharp rise in fuel spending through March 27 as Middle East conflict drove up petrol and diesel prices, while overall household spending stayed flat. CBA now expects inflation to reach 5.4% by mid-2026 and unemployment to rise to 4.6% by early 2027. The bank said households are shifting budgets rather than cutting back. Markets see about a 60% chance of another rate hike in May.
April 2, 2026
Prudential plc fixes $13.83 scrip dividend price as 2026 buyback rolls on
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Prudential plc fixes $13.83 scrip dividend price as 2026 buyback rolls on

Steven, 60, missing from Ingoldmells near Skegness since March 26, was found Wednesday, ending a police appeal. Petrol prices in Skegness ranged from 149.7p to 155.9p per litre on Thursday, with nearby Mablethorpe stations posting up to 163.9p. Police expect over 250,000 daily visitors on the Lincolnshire coast for Easter, with heavy traffic and increased patrols planned.
April 2, 2026
BHP Group Ltd shares jump 5% as China PMI surprise lifts miners (Reuters)
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BHP Group Ltd shares jump 5% as China PMI surprise lifts miners (Reuters)

BHP Group’s U.S. shares rose 5.4% to $72.74 Tuesday after Chinese factory data showed the fastest expansion in a year, lifting mining stocks. China’s official PMI climbed to 50.4 in March, beating forecasts. Iron ore futures stayed near $106 a ton as traders balanced stronger steel demand with high inventories and energy costs. BHP faces an operational review April 22 amid ongoing pressure from Chinese import restrictions.
March 31, 2026
National Australia Bank Says Cost-of-Living Stress Hits 12-Year High as Australians Switch and Spend Less
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National Australia Bank Says Cost-of-Living Stress Hits 12-Year High as Australians Switch and Spend Less

National Australia Bank’s Consumer Stress Index rose to 59.1 in the March quarter, its highest in over a decade, as cost-of-living pressures hit 71.8, the worst since 2014. The survey, conducted before a recent fuel price spike, found 57% of Australians switched at least one provider due to rising costs. Major banks raised variable mortgage rates after the Reserve Bank’s March rate hike. Job-security stress eased to its lowest since 2021.
March 31, 2026
Isle of Man Diesel Prices Jump 50p as Pumps Run Dry, Government Says Midweek Relief Ahead
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Isle of Man Diesel Prices Jump 50p as Pumps Run Dry, Government Says Midweek Relief Ahead

Diesel prices on the Isle of Man surged by about 50 pence to 185.9p per litre Monday after some stations ran dry over the weekend, prompting queues and purchase limits. Fresh supplies began arriving later in the day following shipping delays caused by bad weather. Some retailers kept prices lower but capped sales at £20. The government expects prices to stabilise by midweek.
March 30, 2026
UK Stock Market Today: FTSE 100 Week Ahead Faces Oil Shock, GDP Test and Good Friday Closure
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UK Stock Market Today: FTSE 100 Week Ahead Faces Oil Shock, GDP Test and Good Friday Closure

The FTSE 100 slipped 0.05% Friday and the FTSE 250 dropped 1.5%, both heading for steep monthly losses as oil prices surged and Middle East tensions persisted. The OECD cut its UK 2026 growth forecast to 0.7% and raised inflation expectations to 4%. London trading will pause for holidays April 3 and 6, delaying reaction to U.S. jobs data. Retail sales fell 0.4% in February and consumer confidence hit an 11-month low.
March 29, 2026
Asda warns of temporary petrol pump shortages as UK fuel prices break 150p amid Iran war
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Asda warns of temporary petrol pump shortages as UK fuel prices break 150p amid Iran war

Asda warned of temporary fuel shortages at some UK pumps after demand surged and petrol prices topped 150p a litre for the first time in nearly two years. The supermarket said no station had fully run out, but supply was “tight.” Fuel industry groups said national supply remained stable and urged drivers not to change buying habits. Brent crude traded at $111.52 a barrel as the Iran-Israel conflict rattled oil markets.
March 27, 2026
Lloyds Banking Group Share Price Holds Near 93p as FCA Motor Finance Update Looms
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Lloyds Banking Group Share Price Holds Near 93p as FCA Motor Finance Update Looms

Perth petrol prices will jump to an average 256.8 cents per litre on Wednesday, up 11 cents from Tuesday, according to FuelWatch. The gap between the cheapest and most expensive stations has widened to 39 cents per litre, with major chains lifting prices sharply. Only 22 outlets will sell below 240 cents per litre. Consumer Protection fined a Geraldton retailer this month for charging more than the notified price.
March 24, 2026
Kenya Fuel Shortage Deepens as Nairobi Pumps Run Dry, Dealers Warn of Supply Halt
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Kenya Fuel Shortage Deepens as Nairobi Pumps Run Dry, Dealers Warn of Supply Halt

Petrol stations in Nairobi ran dry Tuesday, with long queues and many outlets posting no-fuel signs, as Kenya’s fuel shortage worsened. Officials said stocks were sufficient, blaming hoarding and panic buying, while dealers warned the crisis could spread nationwide if price controls remain unchanged. About 20% of outlets are affected, according to industry groups. The regulator has refused to raise pump prices despite higher import costs.
March 24, 2026
AI Could Lift Europe’s Productivity by More Than 4% in 10 Years, ECB Says
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AI Could Lift Europe’s Productivity by More Than 4% in 10 Years, ECB Says

ECB chief economist Philip Lane said artificial intelligence could boost euro-zone productivity by over 4 percentage points in the next decade if adoption spreads quickly, but warned a prolonged energy shock could limit gains. ECB staff last week cut the 2026 growth forecast to 0.9% and raised the inflation outlook as energy costs rose. Only 3% of euro-area patents relate to AI, compared to 9% in the U.S.
March 23, 2026
UK Fuel Prices: Diesel Could Hit £2 a Litre Within Weeks as Oil Surge Reignites Fuel Duty Fight
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UK Fuel Prices: Diesel Could Hit £2 a Litre Within Weeks as Oil Surge Reignites Fuel Duty Fight

UK diesel prices may exceed £2 a litre within weeks as Brent crude held above $110 following new Middle East attacks, traders said Friday. Average diesel prices have jumped nearly 20 pence since late February. The Bank of England warned inflation could hit 3.5% if energy costs keep rising. Chancellor Rachel Reeves faces pressure as a fuel duty cut expires at the end of August.
March 20, 2026
UK Petrol Prices Jump Again as Iran Conflict Opens a 49p Gap Between M1 Pumps and London’s Cheapest Stations
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UK Petrol Prices Jump Again as Iran Conflict Opens a 49p Gap Between M1 Pumps and London’s Cheapest Stations

UK petrol prices climbed Tuesday, with a 49p-per-litre gap between the priciest M1 motorway stop and the cheapest London station as Brent crude topped $101 a barrel amid Iran conflict disruptions. RAC data showed unleaded averaging 142.29p and diesel 162.06p per litre. Motorway sites charged up to 172.9p for petrol, while Morrisons Camden offered 123.9p. Ministers warned retailers against unjustified price hikes.
March 17, 2026
Nigeria Freeze on Petrol Imports Leaves Dangote With 92% of Supply, Fueling Monopoly Fears
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Nigeria Freeze on Petrol Imports Leaves Dangote With 92% of Supply, Fueling Monopoly Fears

Nigeria’s fuel regulator issued no new petrol import licences in February or March, citing adequate local supply as Dangote refinery provided 92% of fresh petrol in February, or 36.5 million litres daily. National consumption averaged 56.9 million litres a day that month, with Port Harcourt and Kaduna refineries still shut. NNPC cut pump prices in Lagos and Abuja after Dangote lowered its refinery gate price.
March 12, 2026
National Australia Bank Survey Shows Australian Business Confidence Turns Negative After RBA Hike
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National Australia Bank Survey Shows Australian Business Confidence Turns Negative After RBA Hike

Australian business confidence fell to -1 in February, its first negative reading in 11 months, according to NAB’s monthly survey, while business conditions stayed at +7 and sales rose. The decline followed the Reserve Bank of Australia’s Feb. 3 rate hike to 3.85%. NAB’s first-quarter cash earnings climbed 16% to A$2.02 billion as business banking volumes increased. Inflation pressures persisted, with purchase and labour costs up 1.5% for the quarter.
March 10, 2026
Commonwealth Bank of Australia Says Wage Growth Held at 3.1% Ahead of RBA Rate Call
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Commonwealth Bank of Australia Says Wage Growth Held at 3.1% Ahead of RBA Rate Call

Commonwealth Bank of Australia reported internal wage growth steady at 3.1% for the year to February and about 21,000 jobs added last month. The Reserve Bank meets March 16-17, with markets pricing a 50% chance of another rate hike after February’s increase to 3.85%. Major banks have already passed on higher rates to home-loan customers. CBA’s data shows stable wages despite a tight labor market.
March 10, 2026
Australia Fuel Prices Spike as ACCC Checks Gouging and Reserve Claims Unravel
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Australia Fuel Prices Spike as ACCC Checks Gouging and Reserve Claims Unravel

Diesel prices in parts of Australia have surged past A$2.50 a litre, with some stations near Dubbo hitting 259.9 cents, as Middle East tensions disrupt supply. The ACCC is investigating pricing and supply practices, warning fuel companies against misleading explanations. United Petroleum has begun rationing deliveries, and some wholesalers are restricting sales. Energy Minister Chris Bowen said Australia has 34 days of diesel in reserve.
March 10, 2026
Natural Gas Price Today: Europe Gas Jumps Near 70 Euros as Qatar Outage Deepens Supply Fears
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Natural Gas Price Today: Europe Gas Jumps Near 70 Euros as Qatar Outage Deepens Supply Fears

Europe’s benchmark natural gas price surged nearly 30% early Monday, reaching just under 70 euros/MWh before settling near 60, after a prolonged outage at Qatar’s Ras Laffan LNG facility and shipping delays in the Strait of Hormuz. Brent crude climbed to $119.50 a barrel. European gas storage is about 30% full, well below last year’s level. Asian buyers are also seeking spot LNG cargoes as supply tightens.
March 9, 2026
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