The Latest Breaking News from Philip Lowe

Governor of central bank says rate pause in April had given board ‘more time to assess the pulse of the economy’ before Tuesday’s increase to 11-year high

The Reserve Bank has resumed heaping pain onto Australian home owners, raising interest rates in May for the eleventh time in a year.

Australia’s central bank has surprised markets by increasing its benchmark interest rate by a quarter percentage point to 3.85% despite pausing its climb last month and new evidence that inflation is slowing

In a decision reached at its meeting today, Australia’s reserve bank will lift interest rates, causing further strain to borrowers

The RBA has dashed hopes of another pause in interest rates, resuming hikes in May amid fears inflation - though slowing - is still too high.

The majority of Aussies have been spooked off of loans and have lost faith in the decisions of the RBA, research shows.

Is there a better example of the deficiencies of monetary policy than the RBA prolonging higher rent inflation by lifting rates to theoretically reduce inflation?

These representatives bring expert knowledge of how the real economy works and labour market operations. Workers must have a say.

Australia’s inflation rate has fallen from its 30-year high of 7.8% in the December quarter of 2022 to 7.0% in the March quarter of 2023. But it’s still likely the Reserve Bank of Australia will push up interest rates again before the end of the year to drive inflation back…

Even if inflation eases, a leading economist and strategist believes today's consumer price index figures will give the Reserve Bank of Australia reason to resume its rate-hiking cycle at its next meeting.

If the RBA were a company, the board would have and should have sacked Philip Lowe long ago. But they couldn’t; they knew it and he knew it.