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The Latest Breaking News from RBA

Americans go to the polls tomorrow after a long and gruelling election campaign, and the RBA’s announcement today is unlikely to bear good news for those wanting an interest rate drop.

Crikey

All eyes on RBA statement as rates tipped to stay put

Analysts will pore over the RBA's post-meeting statement for any softening in rhetoric that could signal an interest rate cut earlier than expected.

AAP

RBA tipped to keep rates steady for 12th straight month

Interest rates have been kept on hold for almost a year and are broadly expected to stay there until cuts start in early 2025, provided inflation keeps easing.

AAP

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Trump says he’ll protect women ‘whether they like it or not’

Trump reportedly told a rally his advisers had told him to stop using the line as it was ‘inappropriate’. And more economic data is being released this morning ahead of the RBA’s interest rates decision next week.

Crikey

Albo’s Qantas headache continues

Try as he might, Anthony Albanese can’t get his alleged flight upgrades from Alan Joyce out of the news, and Joe Biden has given Kamala Harris the gift of the gaffe.

Crikey

'People haven't splurged': tax cut spending subdued

Australian retailers are finally starting to see a more upbeat consumer, though spending is unlikely to be strong enough to fan the flames of inflation.

AAP

Labor’s actions to lower inflation have worked – so why is the RBA unlikely to cut interest rates next week?

Without the energy rebates, electricity prices would have fallen over the past year by 2.7% instead of 15.8%

The Guardian - AU

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The RBA will likely hold interest rates – but are its calculations at risk of being overtaken by US election chaos?

The first polls will be opening in the US not long after the RBA’s board meeting wraps up next Tuesday

The Guardian - AU

Australia’s annual inflation sinks to 2.8%, the lowest rate in more than three years, increasing chance of rate relief

Electricity prices fell by 17.3% in the latest quarter, while automotive fuel also fell 6.7%, increasing the chance of near-term interest rate reductions

The Guardian - AU

Albanese’s upgrades scandal engulfs PM

Anthony Albanese will be hoping for good inflation news when the September consumer price index is released today, and Kamala Harris is returning to an infamous Donald Trump rally site for her ‘closing argument’.

Crikey

Australia's inflation down, but not out

There were few surprises in the inflation read-out, with economists broadly of the view underlying price pressures should keep the cash rate on hold until 2025.

AAP

David Crisafulli and LNP take Queensland

The LNP is on track to take at least 48 seats in Queensland after its state election victory over the weekend, and the RBA’s November meeting could ‘slam the door’ on the possibility of a 2024 rate cut.

Crikey

Inflation readout make or break for 2024 rate cut

Important pieces of the economic puzzle will fall into place this week, starting with inflation and then spending data.

AAP

Inflation may be about to hit a three-year low. Does that mean the cost-of-living crisis is over?

Not really, because CPI is just one factor. A better measure of how we’re faring is household disposable income

The Guardian - AU

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The Guardian - AU

Australia’s unemployment figures are a reason for joy – even if it means waiting for the next interest rate cut

I am not going to be sad if more people having a job means I’ll have to wait a few more months before my mortgage repayments drop

AAP

Reserve Bank's views on hot jobs market to be canvassed

A speech by the Reserve Bank of Australia's deputy governor will draw careful scrutiny amid hopes a long-awaited rates cut could be brought forward.

The Guardian - AU

Strong Australian jobs figures lower expectations of pre-Christmas interest rate cut

Unemployment rate in September was 4.1% – making it unlikely the Reserve Bank will cut interest rates this year

AAP

'Limited evidence' rate hikes passed on to renters: RBA

Only a small fraction of higher interest costs are directly passed from indebted landlord to renter, fresh Reserve Bank of Australia research has found.

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The Guardian - AU

Inflation expectations can be self-fulfilling. Here’s why that matters for Australia

The RBA’s chief economist says expected price rises appear to be sliding back towards long term norms – and that’s good news for actual prices

The Guardian - AU

Australia’s pesky fee for debit card purchases may be about to disappear. What happens next?

Extra charge when paying using a card can add more than $12 to the cost of a school laptop, and $6.40 to a car service

The Conversation

Banning debit card surcharges could save $500 million a year – if traders don’t claw back the money in other ways

In a move that could reshape how Australians pay for everyday purchases, the federal government is preparing to ban businesses from slapping surcharges on debit card transactions.

Al Jazeera

Australia announces plans to ban debit card surcharges

Australian Prime Minister Anthony Albanese says move would help ease cost of living for households.

The Conversation

Albanese government has surcharges in its sights, as it pursues the votes of consumers

The Albanese government has announced a first step in what it says is a crackdown on excessive card surcharges and threatened a ban on surcharges for debit cards from early 2026.

Crikey

Card surcharges in Labor’s sights

The government says it wants to ban surcharges for using debit cards as a way of easing financial pressures, and King Charles has been ‘snubbed’ by state premiers.

AAP

Inflation green shoots could spell earlier rates relief

A cooling rental market and slower pay growth hint at a disinflationary pulse some economists hope could deliver borrowers an early Christmas present.

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