CommBank View: Economics & Markets

Productivity growth has slowed across Australia and much of the developed world, but what will it take to turn the trend around?
CommBank Chief Economist Luke Yeaman sits down with Productivity Commission Chair Danielle Wood about the forces shaping productivity growth in Australia and globally. They discuss the causes of the productivity slowdown, the opportunities and challenges presented by artificial intelligence, and what Australia must do to improve business investment, innovation and technology adoption.
They also explore the role of tax reform, regulation, housing, migration and public sector productivity in supporting long-term economic growth, as well as why lifting productivity remains critical to improving living standards in the years ahead.
Plus, CommBank Economist & Currency Strategist Carol Kong shares the key focuses for markets in the week ahead.
Important Information
This podcast is approved and distributed by Global Economic & Markets Research (“GEMR”), a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”).
Before listening to this podcast, you are advised to read the full GEMR disclaimers, which can be found at www.commbankresearch.com.au.
No Reliance
This podcast is not investment research and nor does it purport to make any recommendations. Rather, this podcast is for informational purposes only and is not to be relied upon for any investment purposes.
This podcast does not take into account your objectives, financial situation or needs. It is not to be construed as a solicitation or an offer to buy or sell any securities or other financial products, or as a recommendation, and/or investment advice. You should not act on the information in this podcast.
The Bank believes that the information in this podcast is correct and any opinions, conclusions or recommendations made are reasonably held at the time given, and are based on the information available at the time of its compilation. No representation or warranty, either expressed or implied, is made or provided as to accuracy, reliability or completeness of any statement made.
Liability Disclaimer
The Bank does not accept any liability for any loss or damage arising out of any error or omission in or from the information provided or arising out of the use of all or part of the podcast.
Usage of Artificial Intelligence
To enhance efficiency, GEMR may use the Bank approved artificial intelligence (AI) tools to assist in preparing content for this podcast. These tools are used solely for drafting and structuring purposes and do not replace human judgment or oversight. All final content is reviewed and approved by GEMR analysts for accuracy and independence.
See omnystudio.com/listener for privacy information.

With major changes to negative gearing and capital gains tax set to dampen the appeal of residential property for investors, where will capital flow to instead?
Host Mandy Drury speaks with CommBank Director, Commercial Property Kevin Stanley about why commercial property may become a more attractive option for some investors as a result of the recent tax reforms. They discuss the outlook for rental housing supply, and how capital could shift between residential and commercial assets in the years ahead.
They also explore the outlook for office, retail and industrial property, why shopping centres continue to outperform expectations, and how emerging sectors such as data centres are creating new opportunities across the commercial property market.
Plus, CommBank Associate Director Australian Economist Harry Ottley outlines the series of central bank decisions expected this week and key themes markets are watching.
Important Information
This podcast is approved and distributed by Global Economic & Markets Research (“GEMR”), a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”).
Before listening to this podcast, you are advised to read the full GEMR disclaimers, which can be found at www.commbankresearch.com.au.
No Reliance
This podcast is not investment research and nor does it purport to make any recommendations. Rather, this podcast is for informational purposes only and is not to be relied upon for any investment purposes.
This podcast does not take into account your objectives, financial situation or needs. It is not to be construed as a solicitation or an offer to buy or sell any securities or other financial products, or as a recommendation, and/or investment advice. You should not act on the information in this podcast.
The Bank believes that the information in this podcast is correct and any opinions, conclusions or recommendations made are reasonably held at the time given, and are based on the information available at the time of its compilation. No representation or warranty, either expressed or implied, is made or provided as to accuracy, reliability or completeness of any statement made.
Liability Disclaimer
The Bank does not accept any liability for any loss or damage arising out of any error or omission in or from the information provided or arising out of the use of all or part of the podcast.
Usage of Artificial Intelligence
To enhance efficiency, GEMR may use the Bank approved artificial intelligence (AI) tools to assist in preparing content for this podcast. These tools are used solely for drafting and structuring purposes and do not replace human judgment or oversight. All final content is reviewed and approved by GEMR analysts for accuracy and independence.
See omnystudio.com/listener for privacy information.

Australia's housing market has remained remarkably resilient, but is the slowdown only just beginning?
Host Mandy Drury speaks with CommBank Senior Economist Trent Saunders about the latest trends in the housing market and why sentiment is starting to weaken. They discuss softer auction clearance rates, longer selling times and how higher interest rates and recent housing tax reforms are weighing on buyer and investor confidence.
They also explore why CommBank economists now expect house prices to remain broadly flat through 2026, what the changes to negative gearing and capital gains tax could mean for affordability and investment, and what could help stabilise the market as interest rates eventually begin to ease.
Plus, CommBank’s Associate Economist Lucinda Jerogin shares the key focuses for markets in the week ahead.
Important Information
This podcast is approved and distributed by Global Economic & Markets Research (“GEMR”), a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”).
Before listening to this podcast, you are advised to read the full GEMR disclaimers, which can be found at www.commbankresearch.com.au.
No Reliance
This podcast is not investment research and nor does it purport to make any recommendations. Rather, this podcast is for informational purposes only and is not to be relied upon for any investment purposes.
This podcast does not take into account your objectives, financial situation or needs. It is not to be construed as a solicitation or an offer to buy or sell any securities or other financial products, or as a recommendation, and/or investment advice. You should not act on the information in this podcast.
The Bank believes that the information in this podcast is correct and any opinions, conclusions or recommendations made are reasonably held at the time given, and are based on the information available at the time of its compilation. No representation or warranty, either expressed or implied, is made or provided as to accuracy, reliability or completeness of any statement made.
Liability Disclaimer
The Bank does not accept any liability for any loss or damage arising out of any error or omission in or from the information provided or arising out of the use of all or part of the podcast.
Usage of Artificial Intelligence
To enhance efficiency, GEMR may use the Bank approved artificial intelligence (AI) tools to assist in preparing content for this podcast. These tools are used solely for drafting and structuring purposes and do not replace human judgment or oversight. All final content is reviewed and approved by GEMR analysts for accuracy and independence.
See omnystudio.com/listener for privacy information.

Have energy markets become too complacent about the risks of the Iran conflict?
Host Mandy Drury speaks with CommBank's Head of Commodities & Sustainability Research Vivek Dhar about why oil and fuel prices have eased despite ongoing disruptions in the Strait of Hormuz. They discuss the role of global inventories, the risk of another energy price shock, and why the next few weeks could prove critical for oil markets.
They also explore what higher energy prices mean for Australian households and businesses, the outlook for petrol, gas and electricity prices, and how the crisis is reshaping the conversation around energy security, electrification and the transition to a lower-carbon economy.
Plus, CommBank’s Associate International Economist & Currency Strategist Samara Hammoud shares the key focuses for markets this week.
Important Information
This podcast is approved and distributed by Global Economic & Markets Research (“GEMR”), a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”).
Before listening to this podcast, you are advised to read the full GEMR disclaimers, which can be found at www.commbankresearch.com.au.
No Reliance
This podcast is not investment research and nor does it purport to make any recommendations. Rather, this podcast is for informational purposes only and is not to be relied upon for any investment purposes.
This podcast does not take into account your objectives, financial situation or needs. It is not to be construed as a solicitation or an offer to buy or sell any securities or other financial products, or as a recommendation, and/or investment advice. You should not act on the information in this podcast.
The Bank believes that the information in this podcast is correct and any opinions, conclusions or recommendations made are reasonably held at the time given, and are based on the information available at the time of its compilation. No representation or warranty, either expressed or implied, is made or provided as to accuracy, reliability or completeness of any statement made.
Liability Disclaimer
The Bank does not accept any liability for any loss or damage arising out of any error or omission in or from the information provided or arising out of the use of all or part of the podcast.
Usage of Artificial Intelligence
To enhance efficiency, GEMR may use the Bank approved artificial intelligence (AI) tools to assist in preparing content for this podcast. These tools are used solely for drafting and structuring purposes and do not replace human judgment or oversight. All final content is reviewed and approved by GEMR analysts for accuracy and independence.
See omnystudio.com/listener for privacy information.

The closure of the Strait of Hormuz is disrupting global energy markets, but could agriculture be the next sector caught in the firing line?
Host Mandy Drury speaks with CommBank Agricultural & Sustainability Economist Dennis Voznesenski about how the conflict in the Middle East is driving up fertiliser and fuel costs for farmers and exposing Australia’s reliance on imported agricultural inputs. From fertiliser shortages to pressure on grain production, they unpack how supply chain disruptions could eventually flow through to food prices and the broader economy.
Dennis explains why fertiliser prices have surged since the start of the conflict, why grain prices have not yet fully responded, and which parts of the agricultural sector are most exposed. He also discusses how farmers are adapting their practices, how quickly conditions could improve if a peace deal is reached, and what Australia can do to build greater agricultural resilience over the longer term.
Plus, CommBank International & Sustainable Economist John Oh shares the key focuses for markets in the week ahead.
Important Information
This podcast is approved and distributed by Global Economic & Markets Research (“GEMR”), a business division of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (“the Bank”).
Before listening to this podcast, you are advised to read the full GEMR disclaimers, which can be found at www.commbankresearch.com.au.
No Reliance
This podcast is not investment research and nor does it purport to make any recommendations. Rather, this podcast is for informational purposes only and is not to be relied upon for any investment purposes.
This podcast does not take into account your objectives, financial situation or needs. It is not to be construed as a solicitation or an offer to buy or sell any securities or other financial products, or as a recommendation, and/or investment advice. You should not act on the information in this podcast.
The Bank believes that the information in this podcast is correct and any opinions, conclusions or recommendations made are reasonably held at the time given, and are based on the information available at the time of its compilation. No representation or warranty, either expressed or implied, is made or provided as to accuracy, reliability or completeness of any statement made.
Liability Disclaimer
The Bank does not accept any liability for any loss or damage arising out of any error or omission in or from the information provided or arising out of the use of all or part of the podcast.
Usage of Artificial Intelligence
To enhance efficiency, GEMR may use the Bank approved artificial intelligence (AI) tools to assist in preparing content for this podcast. These tools are used solely for drafting and structuring purposes and do not replace human judgment or oversight. All final content is reviewed and approved by GEMR analysts for accuracy and independence.
See omnystudio.com/listener for privacy information.