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The Latest Breaking News from RBA

Reserve Bank underpaid almost 1200 staff

Some 1200 staff of the Reserve Bank missed out on wages they were entitled to due to an error calculating payments for leave.

AAP

Michael Pascoe: In defence of the RBA (no, seriously)

The RBA and whoever happens to be in government right now want unemployment up above 4 per cent to 4.25 or 4.5 per cent.

The New Daily

Wealth rises with $140 billion property price surge in early 2023

Australia’s housing market has surged by $140 billion in early-2023 amid an extraordinary rebound in property prices.

The New Daily

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Guardian Essential poll: voters trust Labor over Coalition to manage cost of living and inflation

Poll also shows support for government initiatives to regulate artificial intelligence

The Guardian - AU

Smaller lenders offer savers more than 5 per cent, in contrast to big four

Australians are being urged to consider “breaking up” with the big banks as smaller players rush to pass on higher savings rates.

The New Daily

Interest rates could hit two-decade high by August as mortgage stress soars

Australians struggling with the highest interest rates in a decade are being warned to expect one or two more mortgage bill hikes.

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

Wages or profits? What’s to blame for sky-high inflation?

As the cost-of-living crisis takes a turn for the worse, debate is raging about the role corporate profits have played in delivering the highest inflation

The New Daily

A quarter of homes are bought mortgage-free

The value of homes bought with cash is trending up, with the bulk of those purchases by older generations moving to the regions to retire.

The New Daily

The economy is slowing yet the RBA seems desperate to ensure this is as good as it gets for a long time

Record interest rate rises are intended to stop households from spending, even though the economy is already in a precarious position

The Guardian - AU

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

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

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The Guardian - AU

Australian economy grew 0.2% in first three months of the year, the slowest since Covid lockdowns

Jim Chalmers says higher interest rates and cost-of-living pressures are squeezing household budgets and slowing the economy

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

Labor rejects claim wage rise to blame for rates hike

Ahead of the latest news on Australia's economic performance, the federal government says it's determined to provide as much cost-of-living relief as it can.

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 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.

The New Daily

Watch: Folbigg freedom, RBA announcement

Watch: Kathleen Folbigg has spent her first night in 20 years out of prison after being pardoned for the murder and manslaughter of her four children

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