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The Latest Breaking News from Philip Lowe

The Ferguson Report: Americans ‘vote 1’ for ballot-box apathy

Since SCOTUS clobbered Roe v Wade, progressive Americans have wondered how such a thing could happen. Voting might have something to do with it

The New Daily

Alan Kohler: A recession we don’t have to have is coming, and it will be the RBA’s fault

The RBA has turned on a sixpence, from smiling benignly and welcoming some inflation to sprouting horns and bringing on a recession we didn't have to have.

The New Daily

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

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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

Confidence rises from the depths of gloom

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.

Crikey

Retail, borrowing data to show rate impact

Data on retail spending and demand for loans this week will show the impact of the Reserve Bank’s first interest rate in more than a decade.

Crikey

RBA review not about taking shots at Lowe

Treasurer Jim Chalmers says one of the objectives of a review of the Reserve Bank is to make sure the its board has the right composition.

Crikey

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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

Believe in RBA to avoid recession: Lowe

Australians must trust in the Reserve Bank’s plan to lead inflation back down to regular levels, or risk triggering a recession, RBA governor Philip Lowe says.

Crikey

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

No wage price spiral: employment minister

Employment Minister Tony Burke denies the country is seeing a wage price spiral as policy makers seek to tackle inflation.

Crikey

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

ACTU slams RBA chief’s wage growth view

ACTU secretary Sally McManus says Reserve Bank governor Philip Lowe is living in a “fantasy land” when it comes to his view on wages growth.

Crikey

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AAP

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.

ABC News

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.

AAP

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.

Crikey

Philip Lowe’s fantasy world, where workers are in danger of getting decent pay rises

The RBA governor must be kidding himself if he truly believes Australian workers have a chance of getting a 5% pay rise.

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Crikey

Souring confidence points to trouble ahead

The latest Westpac-Melbourne Institute leading index declined in May, but still shows the economy holding above its long-term trend.

The New Daily

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 Conversation

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 New Daily

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.

AAP

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.

ABC News

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.

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.

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