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The Latest Breaking News from RBA

ASX falls ahead of RBA meeting, global stock markets slide, Rio Tinto sued over Queensland refinery

Australian shares fall ahead of the RBA meeting on Tuesday, pulled down by a slide in global equities as US jobs data signals the Federal Reserve will likely continue raising interest rates to ease inflation.

ABC News

Petrol back below $2 for some motorists

Petrol prices have eased below $2 per litre, ending a six-week run of increases, but rising global oil prices suggest this relief will be short-lived.

AAP

Watch: Queen thanks partying Britons, Albanese arrives in Jakarta, RBA tipped to lift interest rates

Watch: Queen thanks Britons as jubilee celebrations end. Anthony Albanese touches down in Jakarta. RBA tipped to hike official cash rate 0.25 per cent to

The New Daily

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Skilful economic measures are needed to fight the inflation stalking Australia’s households

Tight labour markets, geopolitical uncertainty and the climate crisis all present gnarly challenges. Three experts explain the solutions

The Guardian - AU

Home lending plunged 6.4 pct in April

Borrowing for housing fell 6.4 per cent to $30.99 billion in April, representing a steeper fall than economists were expecting.

AAP

Ritchie Bros. Auctioneers Names Eric Jacobs As Finance Chief

Ritchie Bros.

Benzinga

Open letter: the RBA review needs to be completely independent of government

This is the text of an open letter from 12 leading economists, sent on Sunday:

The Conversation

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Anthony Albanese has some tough economic problems on his plate. Here are seven of them

From sluggish wages to red-hot inflation, there are some unusual things happening in Australia’s economy

The Guardian - AU

Further sign of lame economy in early 2022

There are signs next week's national accounts will show the economy was barely growing in the first three months of the year.

AAP

HomeBuilder and first home buyer grants made housing less affordable says Reserve Bank

Government subsidies such as first home buyer grants and HomeBuilder have boosted demand for homes and helped push up house prices, with "pervasive" impacts on housing outcomes for some Australians, according to the Reserve Bank.

ABC News

Michael Pascoe: Opportunity knocks for Australia in China

I suspect Anthony Albanese will be a better PM than he was Opposition Leader – his talents more suited to making things work than tearing things down.

The New Daily

RBA declines to speculate on rate peak

The RBA's assistant governor for economics Luci Ellis has refused to predict how high interest rates may rise, but reiterated more increases are to come.

AAP

Diversify Your Portfolio with These 5 Outperforming Foreign Stocks

The U.S. stock market rebounded yesterday after talks around a possible easing of import tariffs on Chinese . However, investors remain concerned about multi-decade high inflation and the possibility of economic contraction. This is expected to keep the markets volatile in the near term. So, we think that amid the…

StockNews.com

Wage debates and inflation are just the tip of what business want the new government to tackle

Businesses are battling rising costs, while their customers' purse strings are tightening. Tackling this situation will be the new government's great task, and there's only so much it can do to control some broad economic pressures.

ABC News

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The Guardian - AU

Market response to Australia’s new Labor government will be ‘muted’, economists say

Analysts say election of Albanese government will not ‘shift the dial’ on economic forecasts

AAP

Punishment at the petrol pump: Chalmers

New federal treasurer Jim Chalmers says motorists are being punished at the bowser again, but won't promise to retain the fuel excise cut beyond September.

Reuters

Australia's economy holds plenty of pitfalls for election winner

Whichever party takes the reins of power at Australia's election on Saturday faces an economic road pitted with pot holes, from runaway inflation to rising interest rates, ballooning debt and an over-heated housing market.

AAP

Jobless rate holds at 3.9 pct in April

The unemployment rate remained at 3.9 per cent in April after the Australian Bureau of Statistics downwardly revised the March result from four per cent.

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news in one place.

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The New Daily

‘Devastating’: Households suffer biggest real pay cut since 2001

Australian households are suffering the worst cost-of-living squeeze in more than two decades, with real wages falling at the fastest pace since 2001.

AAP

Rates, inflation to take edge off growth

New data suggests the sharp rise in inflation and an expected rapid rise in interest rates will take the edge off Australia's economic expansion.

ABC News

Reserve Bank minutes show a bigger interest rate rise was considered in May, still possible in June

Borrowers may only have narrowly escaped a bigger interest rate rise this month and should brace for the chance of a super-sized move in June, the Reserve Bank's latest minutes reveal.

AAP

RBA contemplated larger cash rate hike

The minutes of the Reserve Bank of Australia's May board meeting show there was concern among board members about waiting to raise the cash rate.

The New Daily

Market wrap: Federal election and hawkish RBA move expected to dominate markets this week

The month of May has lived up to its reputation as a volatile one for markets. The ASX200 closed the week 1.8 per cent lower at 7075.

The New Daily

Scott Morrison faces a storm of anger as latest data reveals standard of living is nosediving

Scott Morrison’s claim to strong economic management will be tested in the final week of the campaign, as new data reveals a rise in dissatisfied voters.

AAP

New regulations coming to payment systems

The government is developing a new framework for regulating payment platforms, Reserve Bank of Australia deputy governor Michele Bullock says.

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