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The Latest Breaking News from RBA

Slash spending and reform taxes, IMF urges Australia

Australia should reintroduce a mining tax and limit spending growth in the NDIS and aged care, according to a leading global financial institution.

AAP

The days of 4% pay rises are behind us – wages are now barely growing faster than inflation

The recovery of real wages is expected to be so slow that it will take us until 2044 to get back to having as much purchasing power as in 2021

The Guardian - AU

Aussie shares dive on perfect storm of risk aversion

A gloomy inflation outlook from the Reserve Bank has further dampened hopes of interest rate cuts, dragging on confidence and the Australian bourse.

AAP

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RBA reveals what would rule out more interest rate cuts

Barring a material rise in unemployment or weaker-than-expected economic growth, mortgage holders can just about give up hope for any more interest rate relief.

AAP

Wages data could force RBA to turn page on rates cut

Unlikely to receive another rate cut in the next six months, borrowers will at least see the big four banks face parliamentary scrutiny in Canberra this week.

AAP

The roles expected to be in hot demand from AI boom

Data engineers, cybersecurity experts and customer experience designers are in for an AI jobs boom, although firms expect to reduce headcounts as uptake grows.

AAP

Rate cut hopes evaporate with healthy jobs figures

Shares have plunged and the Aussie dollar has soared after surprisingly robust jobs figures showed the economy is running near capacity.

AAP

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Property investors make up two in every five Australian home loans amid record borrowing

Investor home borrowing surges nearly 18% in the September quarter compared with previous three months, prompting calls to ‘urgently rein in overheated credit market’

The Guardian - AU

RBA bigwig reveals how economy can escape slow lane

The Australian economy's spare capacity will be key to deciding how many times the Reserve Bank can cut interest rates, a senior official says.

AAP

Economy heads for first major test since RBA rate hold

Australia's volatile unemployment rate is expected to tick back down to 4.4 per cent, which would add little urgency for the Reserve Bank to cut interest rates.

AAP

Interest rate cuts might have less impact than thought

Mortgage holders were smashed by the fastest interest rate hiking cycle in decades post-pandemic, but a study has found it did little to dampen spending.

AAP

The RBA predicts inflation will rise faster than wages. Let’s hope it’s wrong

If the Reserve Bank is right, then by the end of 2027 the average wage will only have the same purchasing power as it did at the end of 2011

The Guardian - AU

Shares pare early losses but linger at five-week lows

A storm of local and global headwinds are blowing against the local bourse, which has fallen for six of the last seven sessions.

AAP

The worrying trend that could put an end to rate cuts

The rising cost of new homes and services such as takeaway meals were key to the Reserve Bank's inflation miss in September and could rule out future rate cuts.

AAP

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The Guardian - AU

The RBA governor resorts to sport cliches on interest rates while stretched Australians try to keep up with costs

We now know that the central bank doesn’t think inflation will be back in its 2 to 3% target range until 2027

The Guardian - AU

Afternoon Update: RBA keeps cash rate on hold; female jockey’s Melbourne Cup win; and the forgotten republic of Transnistria

Reserve Bank governor Michele Bullock says unexpected jumps in employment and inflation made the board ‘a little bit cautious’

The Conversation

RBA keeps interest rates on hold, leaving borrowers looking further ahead for relief

As expected, the Reserve Bank of Australia (RBA) has kept the cash rate steady at 3.6%. Its board unanimously agreed it was better to “remain cautious” on interest rates.

AAP

Jump in forecast inflation clouds interest rate hopes

More rate cuts are looking increasingly unlikely as the Reserve Bank concedes it underestimated inflationary pressures that persist in the economy.

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The Guardian - AU

RBA holds official interest rate at 3.6% while warning of rising house prices and rents

Reserve Bank’s decision to leave cash rate at 3.6% was widely expected and major banks predict no interest rates cut until 2026

AAP

Sticky inflation cruels chances of interest rate relief

Borrowers face the possibility of interest rates going up rather than down again after the Reserve Bank held steady following a spike in inflation.

AAP

Illicit cigarettes surge clouds modest spending lift

A 0.2 per cent rise in household spending in September would have been twice as strong if not for a fall in legal tobacco sales, according to official figures.

AAP

RBA to reveal interest rate call, economic forecasts

The Reserve Bank is widely expected to keep rates on hold after a spike in inflation, with the bank's updated economic forecasts set to be closely scrutinised.

The Guardian - AU

What if the next move in interest rates is up? Australia’s shock inflation news raises an unwelcome question

One economist warns if inflation is hotter than expected in the December quarter, the RBA could hike in February

The Guardian - AU

So it’s goodbye to lower interest rates – to be honest, the RBA was always looking for an excuse not to cut

The story this quarter was one of big jumps in electricity prices due to the end of the state subsidies

The Conversation

Higher than expected inflation report dashes hopes for further RBA rate cuts

Inflation jumped 1.3% in the September quarter, above economists’ and the Reserve Bank’s own expectations. That is likely to rule out a cut in interest rates next week.

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