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The Latest Breaking News from Philip Lowe

Sentiment lifts from the depths of despair

Consumer confidence has improved for a second consecutive week after a slump earlier in the month as a result of a large rise in interest rates.

AAP

Guardian Essential poll: voters back minimum wage rise but divided on Labor’s climate target

A third of respondents think Albanese should adopt a more ambitious emissions target, while nearly half blame the Coalition’s climate wars for the energy crisis

The Guardian - AU

Jim Chalmers says inflation will go higher, but unions are right to push for higher wages

Treasurer says it is ‘uncontroversial’ for unions to note that wage rises are below inflation, and suggests there may be a place for workers’ representative on RBA board

The Guardian - AU

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What does the Reserve Bank’s 3.5% pay rise ‘anchor’ mean for Australian workers?

Inflation is predicted to reach 7% by year’s end but the RBA’s Philip Lowe says wages growth of about 3.5% will keep economy moving

The Guardian - AU

The Loop: An Australian quantum computing breakthrough, a mining industry sexual assault report, and which dog won Westminster's Best in Show

Get up to speed on today's headlines with The Loop.

ABC News

ACTU Secretary Sally McManus says Reserve Bank in 'boomer fantasy land' over wage-price spiral fears

ACTU Secretary Sally McManus warns that the Reserve Bank is out of touch and living in "boomer fantasy land" if it thinks workers can afford real cuts to their wages.

ABC News

Dutton doesn't want RBA board compromised

ACTU secretary Sally McManus has criticised the make-up of the Reserve Bank board, but Opposition Leader Peter Dutton doesn't want to see a union leader on it.

AAP

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As fixed mortgages end and rates rise, many risk losing their homes

Almost 40 per cent of Australians with mortgages who have locked in ultra-low fixed interest rates will roll off them as soon as next year, raising fears that more people will default on their loans, creating financial system instability.

ABC News

Still no sign of wage inflation: Burke

Employment Minister Tony Burke insists there is still no sign of wage inflation, noting Reserve Bank governor Philip Lowe's warning over excessive increases.

AAP

More interest rate pain: RBA’s sobering inflation warning to households

Australians must brace for several years of high inflation and rising interest rates, Reserve Bank governor Philip Lowe warned in a speech on Tuesday.

The New Daily

Word from The Hill: On interest rates, people smugglers, parliamentary sitting, and Julian Assange

As well as her interviews with politicians and experts, Politics with Michelle Grattan includes “Word from The Hill”, where she discusses the news with members of The Conversation politics team.

The Conversation

High inflation to persist for ‘some years’, warns Reserve Bank boss

The governor of the Reserve Bank has warned high inflation is likely to persist for years to come as the global economy works through major supply issues.

The New Daily

Early use of yield target a success: RBA

Reserve Bank governor Philip Lowe says the initial use of a bond yield target to keep funding costs low during the pandemic was a success.

AAP

Reserve Bank governor says inflation is rising, but he doesn't see a recession on the horizon

The RBA admits it suffered "reputational damage" when it tried to wind back its COVID-19 pandemic stimulus program.

ABC News

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AAP

RBA warns of damage from rising inflation

Reserve Bank governor Philip Lowe has warned of the damage inflation can inflict on the economy and why it needs to be brought under control.

ABC News

ASX rebounds as Reserve Bank admits it suffered 'reputational damage', bitcoin recovers above $US21,000

The Australian share market rebounds, after plummeting for seven straight days into correction territory, while cryptocurrency investors remains on edge after its recent meltdown.

ABC News

Where did the RBA find evidence of wage growth?

The Reserve Bank of Australia is facing a federal government review, and we found one good reason for it: Wages growth data has come from a source that an expert called not "statistically valid".

The Conversation

The RBA's pre-COVID failure to cut interest rates faster may have cost as much as 270,000 jobs

The Reserve Bank of Australia is about to be put under the microscope in the first major review of its performance in at least 30 years, and perhaps forever.

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AAP

Recession not on horizon, says RBA's Lowe

Reserve Bank governor Philip Lowe says a recession in Australia is not on his horizon, but after the past two years nothing can ever be ruled out.

AAP

RBA's Lowe to expand on outlook views

Reserve Bank governor Philip Lowe will address a conference on Tuesday on Australia's economic outlook and monetary policy.

The Conversation

Grattan on Friday: Everything, it seems, is conspiring to test the Albanese government

On Thursday Anthony Albanese and Energy Minister Chris Bowen formally updated Australia’s international commitment for its proposed climate change action. It’s now a 43% reduction in emissions by 2030, in line with the policy Labor took to the election.

The New Daily

Alan Kohler: Albanese’s note to self – Don’t get blamed for the Morrison crises

Governments usually change after a recession, not before one, so the job is a nice one – to manage the recovery. But this time is different.

The Guardian - AU

Stagflation: what is it and is it really happening in Australia?

Australians are feeling the pinch from rising inflation, but experts are divided on whether the 1970s economic phenomenon is back

The New Daily

Woolworths freezes prices on essentials amid cost-of-living alarm

Woolworths will freeze prices on hundreds of household essentials for six months, as shoppers battle with surging inflation.

The Conversation

Fair Work Commission gives a 5.2% – $40 a week – increase in the minimum wage

The Fair Work Commission has announced a rise in the minimum wage of 5.2% or $40 a week, taking it to $812.60 a week or $21.38 an hour.

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