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The Latest Breaking News from Philip Lowe

Crying all the way to the bank: renters, home buyers reach their Lowest point

It’s been death by a thousand rate and rent rises, say Crikey readers. The RBA governor can take his advice and put it where it will hurt him.

Crikey

Madonna King: Listen up Albo, the Voice coming out of the suburbs is all about the cost of living

The impacts of cost of living on voters should give our economic decision makers pause, and with good reason, writes Madonna King.

The New Daily

Inflation, unemployment, interest rate hikes: is it any wonder Australia’s misery index is rising?

Alleviate supermarket blues by performing a funky dance in the canned veg section

The Guardian - AU

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Australia’s productivity plunge: why is the Reserve Bank concerned and should we panic?

Philip Lowe cited ‘subdued’ productivity growth when the RBA lifted rates for a 12th time to try to tame inflation. Here’s why it matters

The Guardian - AU

Grattan on Friday: Labor caught in pincer movement of fighting inflation and delivering to its constituency

During the election campaign Anthony Albanese repeated, endlessly, that everything was going up except people’s wages.

The Conversation

As migrants, we were sold a home and an Australian dream of financial security. Now we feel cheated

The Reserve Bank lifts interest rates each month and Philip Lowe tells our family to slash spending. But what’s left to cut

The Guardian - AU

The cost of the Reserve Bank’s profit denialism will be counted in lives

The RBA insists there’s no link between rising profits and inflation. Why do other central banks and the OECD disagree?

Crikey

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Reserve Bank faces a leadership crisis at the worst possible time

As if the RBA didn’t have enough problems, its governor is becoming a figure of mockery — both with the public and with serious commentators.

Crikey

It’s Lowe’s reality show, we just live in it. Or try to

The government and RBA should be using capital to make life fairer. Instead we’re getting homilies about shared housing. What an admission of failure by the establishment.

Crikey

Australia in ‘retail recession’ as inflation and rate hikes hit spending, says report

With a 0.6% slump in turnover in the March quarter expected to continue, Deloitte forecasts a broader ‘consumer recesssion’ later this year

The Guardian - AU

Economy slows to a crawl as consumers cut spending

Australia’s economy is slowing rapidly as families slash spending and raid their savings to deal with the cost of living crisis.

The New Daily

Going down: the 6 graphs that show Australia's economic growth shrinking

The latest national accounts tell us Australia’s economy grew by just 0.2% in the three months to March.

The Conversation

Afternoon Update: Lowe says struggling Australians could work more; Fraser Island renamed K’gari; and the origins of masturbation

RBA governor warns against idea that all workers’ wages should rise in line with inflation

The Guardian - AU

Inflation-beating pay rises can’t be widespread: RBA

RBA governor Philip Lowe says the lowest-paid workers need to be insulated from high inflation but a surge in wages across the board could be a problem.

The New Daily

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Crikey

Australia needs to drop its big block bias and embrace apartment living

There’s a long-standing preference for big backyards and multi-car garages. But it’s time to think outside the house block and look up.

The Guardian - AU

Struggling Australians can cut back spending or work more to get into ‘positive cash flow’, Philip Lowe says

The Reserve Bank governor says rates will keep being lifted if necessary, despite ‘significant financial pressure’ for some

The New Daily

Growth report likely to reveal an economy losing steam

Economic activity is expected to slacken further as higher interest rates and gloomy global conditions persist. The national accounts for the March

The Guardian - AU

Morning Mail: military ‘will be stronger’ for war crimes inquiry, Ukraine dam disaster, Harry in the stand

Defence chief says Brereton report will, in time, reap ‘positive effect’, Ukraine faces ecological crisis after dam collapse, Prince Harry takes to the witness stand

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The New Daily

Michael Pascoe: Is the RBA acting out of spite or just lost the plot?

Passing without notice in April, the Reserve Bank pulled a neat little trick, apparently making multiple billions of dollars in losses “disappear”. I’ve

The New Daily

Economists warn worst is yet to come after June interest rates rise

The June interest rates hike might not be the last, either, with RBA boss Philip Lowe saying more may still be needed.

The Guardian - AU

Political point scoring over latest RBA rate rise won’t help those feeling the ‘painful squeeze’

How high must rates go to choke inflation? Blaming Labor’s budget, price-gouging businesses or the national wage increase isn’t an answer

The Conversation

Why Reserve Bank Governor Philip Lowe wants to damage the economy further

Reserve Bank Governor Philip Lowe and his board have pushed up interest rates yet again – for the twelfth time in 14 months – because they want to damage the economy further.

The Guardian - AU

Afternoon Update: Greens and Coalition attack Labor after rate rise; strategic Ukraine dam destroyed; and a rare wolverine spotted

Political reactions came swiftly from all sides after the RBA raised the cash rate

The Independent UK

Australian central bank boosts cash rate to 4.1% with 12th hike

Australia’s central bank has lifted its benchmark interest rate for a 12th consecutive time to 4.1% and warned further rises could follow

The New Daily

‘Difficult to understand’: Mortgage bills to rise again as RBA hikes interest rates in June

Australian households will be forced to endure a 12th hike in interest rates after the Reserve Bank moved to push up mortgage bills in June.

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