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The Latest Breaking News from RBA

Australia’s banks are not a source of economic dynamism but a drag on our economic and social welfare

The financial sector is not contributing as much to the national economy as it takes out

The Guardian - AU

How high will Lowe go? Five things we learned from RBA governor’s parliament appearance

Philip Lowe tells Senate estimates that interest rates must keep rising to tame ‘corrosive’ inflation – and he is not resigning

The Guardian - AU

Strong bank profits a 'positive', says RBA boss

The Reserve Bank governor has defended robust profits made by banks and says higher rates will eventually start eroding their earnings.

AAP

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Philip Lowe says interest rate rises painful but for the best, predicting more to come

Inflation is dangerous, corrosive and hurts people, RBA governor tells Senate estimates

The Guardian - AU

RBA boss reveals ‘disturbing’ letters from families as mortgage bills skyrocket

Reserve Bank boss Philip Lowe has revealed he's received a series of "disturbing" letters from families about their financial hardships.

The New Daily

RBA boss Philip Lowe defends record bank profits as he flags further rate hikes

Philip Lowe says it is important in the long term to have "strong" banks that are turning a profit, even though it may be hard to hear for people in the grip of skyrocketing mortgage repayments.

ABC News

Million households 'vulnerable' to rising interest rates, and their cuts could cause recession

A prominent economist now puts the risk of recession at 50 per cent, as households face the prospect of making substantial spending cuts to meet rising home loan repayments.

ABC News

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Flawed RBA predictions have 'damaged credibility'

The Reserve Bank's former governor has delivered a scathing assessment of its recent performance as current chief Philip Lowe faces a parliamentary grilling.

AAP

Interest rates could peak at 4.1% amid sinking consumer confidence in Australia, says NAB

Major bank believes business conditions and confidence are improving as it sets cash rate prediction higher than other banks

The Guardian - AU

Mortgage pain to intensify in 2023 as triple rate-hike looms: NAB economists

Australians must brace for interest rates to rise at least three more times in 2023 as the RBA fights high inflation.

The New Daily

Consumer confidence plummets as cash rate lifts

The latest cash rate hike has mortgage holders worried as consumer confidence plunges to its lowest level since April 2020.

AAP

China's economy is recovering — is that a good thing for Australians faced with surging prices?

China's rebounding economy is set to have ramifications for Australia — both good and bad — and could exacerbate our cost-of-living issues.

ABC News

Middle-income families hit hard by inflation, interest rates could sink the economy

As interest rates rise and other cost-of-living pressures increase, middle-income households that had been living comfortably are pulling back on spending, which has big implications for the economy.

ABC News

Four questions Philip Lowe and the RBA need to answer over interest rates

Further rate rises, Reserve Bank strategy, transparency and whether to extend Lowe’s term are likely to come under scrutiny

The Guardian - AU

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The Guardian - AU

It took me 15 years to save for a house. For millennials and gen Z, the journey to home ownership has become an ultramarathon

It’s not our life choices that make ownership unattainable. It’s the system, designed by decision-makers without our lived experience

AAP

'Nothing untoward' in RBA head meeting bankers: Shorten

Cabinet minister Bill Shorten has defended Philip Lowe's decision to give a private briefing to bankers about interest rate rises.

The New Daily

Alan Kohler: The undemocratic independent Reserve Bank

Politicians refer so often to the “independent” Reserve Bank that its initials should change to the IRBA, writes Alan Kohler.

The New Daily

No such thing as a free lunch. Questions for RBA governor Philip Lowe about ‘cosy’ meeting

RBA governor Philip Lowe will be asked to explain why he privately briefed elite bankers about the ninth consecutive rise in interest rates – during a

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news in one place.

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The Guardian - AU

Jim Chalmers confident Australia will avoid recession despite warnings of more interest rate rises

The treasurer also noted ‘very encouraging’ signs on power prices falling, saying Labor’s energy price relief package was working

AAP

RBA governor faces grilling on 'hawkish' rate hike talk

Reserve Bank governor Philip Lowe will appear before parliamentary committees this week after what's been labelled as a "hawkish" shift for the central bank.

AAP

Intervention for energy prices working, says treasurer

Treasurer Jim Chalmers says intervention in the energy market is working and that a decision will be made mid-year on the fate of RBA governor Philip Lowe.

The Guardian - AU

Australia’s economy running hot despite rising interest rates, but experts urge caution

Building and business insiders warn the Reserve Bank’s recent hawkish approach risks long-term harm for households and commerce

The Guardian - AU

Australia’s looming mortgage stress crisis: what the nine interest rate rises mean for households

A quarter are thought to be in mortgage stress already, and another 800,000 face steep rises this year as fixed-term loans end. Experts discuss ways to cope

The Guardian - AU

If Dutton can ride the wave of blame building against Labor, he’s in with a shot in Aston

Knowing a byelection would be coming the Liberals arrived back from holidays armed with a question crafted for the mortgage belt: why does everything cost more under Labor?

The Guardian - AU

The RBA’s latest inflation and wage predictions help explain why Australia’s interest rate nightmare isn’t over

The main worry is workers might demand more pay, employers will pass that on to prices, and a wage-price spiral will take off

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