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The Latest Breaking News from Philip Lowe

RBA governor warns at least two more interest rate rises needed to combat ‘scourge’ of inflation

Philip Lowe admits ‘the magnitude of the pickup in inflation has come as a surprise to everyone’

The Guardian - AU

RBA governor alludes to slower rate hikes

More rate hikes are in store and the case for a slower pace of tightening grows stronger, the Reserve Bank of Australia's governor says.

AAP

Philip Lowe says the Reserve Bank will do 'what is necessary' to combat 'scourge' of high inflation

The Reserve Bank governor says he remains "committed to doing what is necessary" to prevent the "scourge" of high inflation, but offers hints that the pace of rate rises might soon slow.

ABC News

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Big rate hikes could be over: RBA boss

There is a good chance Australians have seen the last super-sized rate hike for a while, according to a speech by the central bank governor.

AAP

Latest interest rate rise hits borrowers and further damages Reserve Bank's reputation

RBA delivers more pain to borrowers

Newcastle Herald

RBA raises rates for a record fifth month, but many are yet to feel mortgage pain

Households will be hit with another hike in their mortgage bills after the RBA increased interest rate for a record fifth month in a row.

The New Daily

Newcastle homeowners feel the pinch after latest rate rise

The official interest rate jumped 0.5 per cent bringing it to 2.35 per cent and at a seven-year high on Tuesday.

Newcastle Herald

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Australia central bank lifts cash rate to 2.35% in 5th hike

Australia’s central bank has boosted its benchmark interest rate for a fifth consecutive month to a seven-year high of 2.35%

The Independent UK

RBA interest rates: Reserve Bank raises official rate to 2.35% amid inflation fears

The RBA decision brings the cash rate to the highest level since 2015, with mortgage holders set to face higher repayments

The Guardian - AU

Reserve Bank hikes interest rates to seven-year high

The Reserve Bank has lifted the official cash rate by another 0.5 basis points, to take official rates to a seven-year high.

The New Daily

Former Reserve Bank economist suggests Greens push for interest rate freeze is nonsensical

Greens senator Nick McKim says homeowners took on massive debt believing rates wouldn’t rise before 2024 and are now getting ‘smashed’

The Guardian - AU

Where do the RBA and economists now stand on wages growth?

Decision makers are torn between wanting to lift wages for fairness and consumption, and wanting to keep wages down to control inflation.

The New Daily

Alan Kohler: The hubris of central bankers and the limits of money

Once again central banks, including Philip Lowe’s Reserve Bank, have kept extreme monetary policies in place for too long

The New Daily

‘Greater insight’: ABS unveils monthly inflation reports as cost-of-living crisis bites

Households and the Reserve Bank will get a much closer look into when soaring inflation peaks later this year with monthly price reports coming.

The New Daily

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The Guardian - AU

The Reserve Bank has to navigate a path away from inflation but the economic signals are months old

While backward-looking labour market data is still robust, property prices provide a taste of the deteriorating outlook

The New Daily

Mortgage bills to jump $140 in August as inflation worsens

Home owners will be slapped with another painful mortgage squeeze in August after the Reserve Bank hiked interest rates to a six-year high on Tuesday.

The Independent UK

Australian central bank hikes rate to 6-year high 1.85%

Australia’s central bank has boosted its benchmark interest rate for a fourth consecutive month to a six-year high of 1.85%

The New Daily

Families to feel ‘sting’ of RBA rate hike: Chalmers

Treasurer Jim Chalmers says today is “another difficult day for Australian home owners” after the RBA lifted official interest rates to a six-year high.

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The New Daily

Reserve Bank hikes official interest rates to six-year high

The Reserve Bank has lifted the cash rate by another half a percentage point as it seeks to rein in rising inflation. It's the fourth rate hike since May.

ABC News

Reserve Bank raises interest rates for fourth-straight month

The Reserve Bank increases interest rates for the fourth month in a row, raising its cash rate target by half a percentage point.

Crikey

Kushner the cushioner … McGowan’s showin’ … Lowe blow … Zelenskyy close-up

Jared Kushner deprives history of a memorable tweet, Mark McGowan shies from the public, and plenty more from the bunker.

The New Daily

Why some economists believe the Treasurer is being too pessimistic

Millions of Australian households are facing a “difficult” year ahead as the cost of living soars. But some believe the Treasurer is over-egging inflation.

The New Daily

Alan Kohler: The Reserve Bank is a renovator’s delight

The most controversial task of the panel reviewing the Reserve Bank will be to decide whether Governor Philip Lowe committed a sackable offence.

The Guardian - AU

Despite Australia’s soaring inflation rate, some economists say the peak may be ‘coming into view’

Analysis: Inflation optimists look to falling global supply chain pressures but spiking energy prices suggest we haven’t reached a plateau yet

The Conversation

Inflation hasn't been higher for 32 years. What now?

Inflation jumped from 5.1% to a new long-term high of 6.1% in the June quarter, a rate matched only by short-lived jump caused by the introduction of the goods and services tax, and not exceeded since 1990.

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