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The Latest Breaking News from RBA

A bastard's tale worthy of the Anzac legend

Apart from its historical significance, it's a rollicking good yarn.

Newcastle Herald

RBA review has ‘opened the door’ to moving away from inflation focus, panellist says

Renee Fry-McKibbin says panel considered ‘a lot of alternative frameworks’ but decision on shift would fall to future reviews

The Guardian - AU

RBA rate calls still face potential parliament veto

The RBA's reviewers have called for greater independence for the central bank but say the government will still be able to step in if the board goes rogue.

AAP

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If the RBA were a company, the governor would be out of a job

If the RBA were a company, the board would have and should have sacked Philip Lowe long ago. But they couldn’t; they knew it and he knew it.

The New Daily

The criticisms behind the Reserve Bank review's recommendations for a new board, updated mandate

The Reserve Bank review wants to remove economic prosperity as an objective of monetary policy, with some economists arguing house prices and household debt are outside its domain.

ABC News

Inflation data to set the scene for next cash rate call

There will be a lot riding on the quarterly inflation figures as the Reserve Bank board tries to determine if it's done enough to rein in rising prices.

AAP

Michael Pascoe: The fallacy at the heart of the Reserve Bank of Australia review

Instead of tackling the fallacy and lie, the review came up with this: 'There should be increased joint work between Treasury and the RBA'.

The New Daily

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Consumer watchdog turns up heat on banks over savings rates

The ACCC is turning the spotlight on banks over interest rates – especially those paid to savers as borrowers are increasingly slugged.

The New Daily

Coalition, Labor at odds over RBA board appointments

As the Albanese government seeks to enact the recommendations of a review of the Reserve Bank, the coalition has queried two new appointments.

The New Daily

Bank shares slip as ACCC probes savings rates, ASX finishes lower as dust settles on RBA review, Tesla shares slide — as it happened

The Australian share market finishes lower as the dust starts to settle after yesterday's RBA review, with bank shares sliding as the ACCC launches a probe into savings rates. Look back on the day's events with our business reporters on the ABC News markets blog.

ABC News

Morning Mail: NSW left behind on drug policy, Gorgon carbon capture fail, SpaceX rocket blows up

Queensland’s move to three-strike system for minor drug possession leave NSW isolated; emissions shoot up 50% at huge gas project; Elon Musk says spacecraft test was ‘exciting’

The Guardian - AU

Madonna King: The world has evolved, and that’s why the RBA should too

Jim Chalmers’ in-principle support for the recommendations released in yesterday’s review of the RBA is also welcome.

The New Daily

No bull: it's time to keep the buck of rodeos out of Newcastle

There are no circuses in Australia using wild animals these days, yet we are allowing professional bull riders to perform in this city on the weekend. Why?

Newcastle Herald

Does everyone welcome the Reserve Bank overhaul?

Economists have welcomed many of the proposed changes to the Reserve Bank of Australia, but some have raised concerns.

ABC News

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AAP

Reserve Bank to keep close eye on jobs and inflation

The Albanese government will enact the recommendations of a review of the Reserve Bank, to ensure it focuses on full employment and inflation.

The Guardian - AU

A singular focus on interest rates, fresher board, fewer meetings – but what else could change at the RBA?

The Reserve Bank overhaul won’t fix mistakes of the past, but that’s not the point, analysts say

The New Daily

Reserve Bank revolution: Jim Chalmers reshapes the RBA for the 21st century

The scale of the RBA changes recommended by the review is large – there is an entire section devoted to a year-long implementation process.

ABC News

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.

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The Guardian - AU

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 New Daily

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".

AAP

Treasurer appoints two new Reserve Bank board members

Former workplace umpire Iain Ross and corporate director Elana Rubin have been appointed to the board of the Reserve Bank of Australia.

The Guardian - AU

The RBA review ignores the global failure of inflation management to prevent financial chaos

The Guardian - AU

RBA shake-up promises board representation for workers, with focus on full employment and fighting inflation

Sweeping changes to Reserve Bank of Australia give equal weighting to employment and inflation, and mandate greater transparency

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