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The Latest Breaking News from RBA

Reserve Bank renovation to split responsibility

Two separate boards will be responsible for governance and interest rates in a major overhaul in response to a review of the Reserve Bank of Australia.

AAP

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

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Labor to announce in-principle support for RBA review's recommendations, establish two new boards

Treasurer Jim Chalmers is set to release the highly anticipated review into the Reserve Bank of Australia on Thursday and to announce that the government has given in-principle support to all of its recommended changes.

ABC News

Jim Chalmers is a man on many missions. Here's what the treasurer's been up to ahead of the budget

Will Treasurer Jim Chalmers be able to please everyone with his May budget? He's certainly trying very hard to cover a lot of economic ground beforehand.

ABC News

Michael Pascoe: The darling buds of May promise the flowering of reforms

There are drums beating in the policy jungle that the first days of May might see Australia commit to taking on necessary economic reform.

The New Daily

Reserve Bank minutes divide experts amid optimism and pessimism on rate hikes

"Anyone who thinks the RBA will hold rates at 3.6 per cent have some cause for concern following the release of RBA April minutes".

The New Daily

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Westpac Group expands fee-free ATM network amid mass retreat

Westpac Group is expanding its fee-free ATM network to almost 7000 locations as banks continue to pull away from physical branches.

The New Daily

Afternoon Update: Coalition reshuffle promotes voice opponents; RBA hints at rate rises; and Ablett Sr sues AFL over concussion

Liberal leader Peter Dutton signals determined approach to thwart voice after parachuting Jacinta Price into shadow cabinet

The Guardian - AU

‘Very tight’ jobs market fuelled case for April hike

Inflation that is still far too high and Australia's red-hot jobs market were the key arguments for another interest rate hike in April.

The New Daily

RBA hints at further interest rate rises as minutes reveal pause was lineball

The nine board members were very close to raising the cash rate another 25 basis points in April due to inflation and labour market

The Guardian - AU

The RBA's interest rate pause was a close call that could change as early as next month

The Reserve Bank reveals its decision to pause its aggressive interest-rate-hiking strategy was a close call, while again warning that more hikes might be needed to tame inflation.

ABC News

‘Unnecessary’ rate hikes to trigger ‘consumer recession’: Report

A major economics firm says the RBA has gone too far in raising interest rates and has forecast a "consumer recession".

The New Daily

Reserve Bank minutes suggest May rate hike on the table

Fresh inflation data will set the scene for the Reserve Bank's next move, with another rate hike a live option for its board meeting in May.

AAP

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ABC News

Did the Reserve Bank's interest rate hikes put Australia's economy on a 'knife-edge'? A major consulting firm thinks so

A major consulting firm forecasts a "consumer recession" in 2023, warning hundreds of thousands of Australian households are bleeding cash every month.

AAP

Treasurer calls for bipartisan support on RBA reform

The treasurer wants the opposition and crossbenchers to look "beyond party politics" on upcoming reforms to Australia's central bank.

The New Daily

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.

ABC News

Come inside the RBA's media lock-ups to see how we report on interest rates and financial risks

Every now and then, the Reserve Bank of Australia locks up a group of financial journalists and the ABC's Michael Janda is often one of them. He explains why this is good for reporters, and for you.

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The New Daily

Australians among lowest users of cash in the world, report finds

Shoppers are leaving the cash to pile up at home, with mobile devices honing in on taking over payment duties, a new research revealed.

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.

AAP

Reserve Bank's close April decision on show

Further insights into the central bank's decision to hit the pause button will be outlined in the April board meeting minutes.

The New Daily

Michael Pascoe: Tweaks won’t fix housing crisis while half of Australia suffers

Nothing demonstrates the myopia of Australian political leadership better than the way the housing crisis apparently happened overnight.

The New Daily

‘Now in reverse’: Big four banks slash refinancing discounts as profits come under pressure

Australia’s big four banks are reining in their biggest mortgage discounts as tight competition and record levels of refinancing eat into their profits.

ABC News

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?

The New Daily

‘Resilient’ jobs market foreshadows more interest rate hikes, economists say

Australia’s jobs market showed little signs of slowing in March despite almost a year of interest rate hikes, economists said.

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