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The Latest Breaking News from Philip Lowe

What does the Reserve Bank of Australia review mean, and how will it affect interest rates and mortgage payments?

A scathing review of the Reserve Bank of Australia is set to deliver a shake-up of the central bank not seen in a generation. Here's what it means for interest rates, your mortgage, and RBA governor Philip Lowe.

ABC News

Afternoon Update: Lowe responds to RBA shake-up; rare solar eclipse in images; and K-pop star dies at 25

RBA governor welcomes review of central bank as treasurer announces all 51 recommendations will be implemented

The Guardian - AU

Philip Lowe welcomes RBA review but says description of board ‘far from the reality’

Reserve Bank governor says board challenges him and does not ‘sit there meekly’ but calls overall report ‘kind of excellent’

The Guardian - AU

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Lowe says he would stay at RBA helm as reforms unfold

The governor of the Reserve Bank agrees the institution needs to evolve and is willing to lead the reform of the central bank if his tenure is extended.

The New Daily

RBA boss concedes central bank ‘needs to change’

RBA boss Philip Lowe has welcomed the wide-ranging review of the central bank, admitting it "needs to change".

The New Daily

Reserve Bank revolution: how Jim Chalmers will recraft the RBA for the 21st century

The review into the Reserve Bank of Australia has just been published by Treasurer Jim Chalmers, and it’s a blockbuster.

The Conversation

ACTU will not push for spot on RBA board as review released – as it happened

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The Guardian - AU

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Massive overhaul of Reserve Bank to change how rates are set

The Reserve Bank of Australia is facing a major overhaul that would change how interest rates are set after a review into its future.

The New Daily

RBA to have separate rate-setting panel but inflation target expected to remain

First full review for decades recommends raft of changes including splitting the board into two to enable more focus on how interest rates are decided

The Guardian - AU

Reserve Bank to have two boards after overhaul by inquiry

The long-awaited independent review of the Reserve Bank commissioned by Treasurer Jim Chalmers will be released on Thursday, with the treasurer already flagging in-principle agreement with all its recommendations.

The Conversation

Alan Kohler: Don’t get too accustomed to low unemployment. Here’s why it won’t last

With unemployment now back at 3.5 per cent, workers seem to have regained their bargaining power – until technology takes it away again.

The New Daily

Unsealed minutes will detail RBA’s thinking on rate hikes and the current pause

More light will be shed on the RBA's decision to forego a further interest-rate hike when the board's minutes are released this week.

The New Daily

The mining sector made more than half of Australia's corporate profits, so why do economists want to ignore it?

Australia's mining sector has generated windfall profits over the past two years, the result of dramatically higher prices for fossil fuel energy, but has it driven inflation?

ABC News

What made rents soar? It might have been COVID, and pairing off

So, you think you know why rents climbed.

The Conversation

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ABC News

Rents are at a record high across Australia, according to a new report

Analysts say open borders and increased migration have driven demand for real estate – and increases in rental prices.

The New Daily

RBA chief Philip Lowe uncertain on need for further rate hikes

Reserve Bank boss Philip Lowe isn’t sure whether interest rates will need to rise again , but he certainly isn’t ruling out another hike.

The New Daily

RBA boss confirms rate hikes not necessarily over

The Reserve Bank has kept interest rates on hold, but governor Philip Lowe says there's a good chance more interest rate hikes will be needed.

ABC News

RBA governor Philip Lowe says pause 'does not imply that interest rate increases are over'

The Reserve Bank boss warns households to brace for more interest rate rises, especially if businesses keep putting up prices or workers demand bigger pay rises.

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The New Daily

Philip Lowe in spotlight after welcome cash rate call

The Reserve Bank has kept interest rates on hold but a public appearance from the bank's boss could shed some light on the likelihood of more hikes.

ABC News

Rio Tinto confirms stolen employee data posted on the dark web after GoAnywhere cyber hack, ASX finishes slightly higher — as it happened

Rio Tinto has confirmed that employee data stolen in last month's cyber hack has been posted on the dark web by a cybercriminal group. Look back on the day's market and business news with our blog.

ABC News

Reserve Bank interest rate pause welcomed by mortgage borrowers as Lifeline prepares to meet with governor Philip Lowe

After 10 consecutive rises, the Reserve Bank has pumped the brakes on interest rates — much to the relief of mortgage borrowers and Lifeline, which has seen more first-time home owners suffering financial distress.

The Guardian - AU

The RBA has paused its record run of interest rate hikes. Relief may only be temporary

Rising rents and energy prices, as well as stagnant wages, lead many economists to predict the rate is yet to peak

The Conversation

Sure, the RBA froze interest rates this time, but there's plenty of pain to come

Australia’s Reserve Bank has hit pause on interest rates after ten successive hikes, but for many Australians, the pain it has inflicted is about to begin.

The Independent UK

Australia pauses key interest rate at 3.6% after 10 hikes

Australia’s central bank has left its benchmark interest rate on hold at 3.6% at its latest monthly meeting following evidence that inflation is falling

The Guardian - AU

RBA hits pause on official interest rate at 3.6% but says further rises may be needed

Cash rate on hold as the Reserve Bank indicates it will monitor state of economy and the outlook before lifting borrowing costs further

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