RBA
Rates to lift if inflation outlook in jeopardy: RBA
25 October
The Reserve Bank of Australia may need to hike interest rates again if its plan to bring down inflation is blown off course, the central bank’s governor says, while highlighting the tight financial squeeze on highly indebted borrowers. In her...[Read More]
‘Shock, after shock’ poses inflation risk: RBA boss
25 October
The head of the Reserve Bank of Australia is alert to the conflict in the Middle East adding to other economic shocks already pushing up the cost of living. In her first public appearance as governor of Australia’s central bank, Michele Bullock...[Read More]
Borrowers cutting back with more pain to come: RBA
11 October
Recent interest rate hikes are expected to slash household spending by between 0.4 and 0.8 per cent, the Reserve Bank estimates. The four percentage points of monetary policy tightening since May last year is starting to slow growth in demand and...[Read More]
New bank chief holds rates at 4.1 per cent
4 October
The official cash rate has been held steady for the fourth month in a row but the Reserve Bank’s new chief is alert to bubbling inflation risks. The RBA board opted to leave interest rates at 4.1 per cent at the first meeting with new governor...[Read More]
Labor’s jobs plan not at odds with RBA, says treasurer
27 September
Driving the unemployment rate down to its lowest level possible is a key objective of the federal government’s new road map for Australia’s labour market. Treasurer Jim Chalmers says the government’s stance on full employment is not at odds...[Read More]
Inflation cooling to plan but fuel on RBA’s watchlist
20 September
The slowing pace of inflation was enough for the Reserve Bank to keep rates on hold at the last meeting, but the board was alert to surging petrol prices and other risks. The minutes from the September meetings revealed a level of comfort with the...[Read More]
Consumers still cautious following RBA pause
13 September
Consumer optimism has retreated again after staging a recovery over the past few weeks. The Reserve Bank’s decision to keep interest rates on hold was not enough to coax consumers out of their cautious state, with confidence levels falling 1.1...[Read More]
RBA keeps rates on hold as inflation passes peak
6 September
RESERVE BANK KEEPS RATES ON HOLD * The Reserve Bank board decided on Tuesday to keep the cash rate on hold at 4.1 per cent – the third such decision in a row after 400 basis points of hikes since May 2022. * The board says the series of rate hikes...[Read More]
Climate change complicates RBA’s job, new governor says
30 August
Climate change may force Australia’s central bank to adapt how it uses interest rates to keep inflation under control, the incoming governor warns. Michele Bullock, who is due to replace Philip Lowe as head of the Reserve Bank of Australia in...[Read More]
Consumers a touch more upbeat but still wary
30 August
Consumer confidence has recovered some lost ground but remains deeply in negative territory. The index collated by ANZ and Roy Morgan recovered 2.3 points to hit 78.1 points last week, with the robust labour market and the possibility of an extended...[Read More]
Chalmers plays down fuss over union push for RBA board
23 August
Treasurer Jim Chalmers doesn’t believe it’s “especially controversial” for unions to be considered for the board of the Reserve Bank. The powerful CFMEU moved a successful motion at Labor’s national conference last week amending the party...[Read More]
Reserve Bank minutes outline reasons for rate hold
16 August
RESERVE BANK BOARD MINUTES * Members agreed that the argument to leave the cash rate unchanged at this meeting was “the stronger one”. * They noted recent information on inflation had been encouraging, and the economy was expected to grow only...[Read More]
Consumer sentiment softens as businesses seek lifeline
16 August
Consumers are tightening their belts as living costs and interest rates rise, putting pressure on small businesses. A Commonwealth Bank of Australia report launched on Monday showed consumer spending growth declining nationally to 1.3 per cent in...[Read More]
Lingering price pressures plaguing businesses
9 August
The cost of running a business has jumped, as have the prices firms are charging, suggesting the inflation challenge still has some fight left in it. A survey of businesses conducted by the National Australian Bank recorded a sharp uptick in both...[Read More]
Behind the RBA board’s interest rate decision
2 August
RESERVE BANK KEEPS RATES ON HOLD The Reserve Bank of Australia board has decided to keep the cash rate on hold at 4.1 per cent at its August monthly meeting. WHY? * Four percentage points of rate rises since mid-2022 are working to balance supply...[Read More]