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The Latest Breaking News from RBA

The cost of living is surging, so why will the RBA add to it by raising interest rates?

The Reserve Bank is increasingly likely to start raising interest rates next Tuesday. But why would it add increased interest costs to household budgets at a time when Australians are struggling with a surging cost of living? Michael Janda explains the economics behind it.

ABC News

The Australian inflation rate gives the lie to Morrison’s claims of strong economic management

Workers’ ability to buy things with their wages is little different from when Tony Abbott took office in September 2013

The Guardian - AU

Business pressured by rising costs: ABS

A new survey by the Australian Bureau of Statistics found well over half of businesses are under pressure from rising costs.

AAP

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Mortgage holders in outer suburbs could face ‘huge cliff’ as inflation and rates rise, experts say

Inflation jumped in March, sparking expectations of a cash rate rise before the election, and concerns for mortgage holders

The Guardian - AU

Inflation hits an extraordinary 5.1%. How long until mortgage rates climb?

Australian consumer prices jumped an extraordinary 2.1% in the first three months of the year, the biggest quarterly jump since the introduction of the 10% goods and services tax at the start of the century.

The Conversation

Australia’s prices surge at fastest pace in two decades

Soaring prices come as Prime Minister Scott Morrison fights a tough election campaign.

Al Jazeera

Australia faces prospect of pre-election rate rise as inflation and consumer prices soar

Annual CPI rate rise to 5.1% was higher than expectations and reflects higher fuel and food costs, sparking fears of an interest rate rise

The Guardian - AU

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Inflation jump largest since GST launched

The Australian Bureau of Statistics says the consumer price index rose 2.1 per cent in the March quarter, taking the annual rate to 5.1 per cent.

AAP

Consumer inflation tipped to hit 4.5% in March as Australian cost of living soars

Petrol, produce and mortgage costs are rising powered by pandemic shortages, flood damage and the war in Ukraine

The Guardian - AU

Inflation surge could see super-sized interest rate hike in June, economists warn

The latest official inflation figures are expected to be the highest since the global financial crisis, and at least one leading economist warns they could trigger an extra large first interest rate hike from the Reserve Bank.

ABC News

Inflation And Tech Earnings Set To Rattle Many Markets Next Week

Next week, the largest market events will centre on inflation, with Australia and the European Area updating the market as to their respective rising consumer prices. Wednesday, April 27, 2022 Australia Inflation Rate YoY Q1

Benzinga

Confidence drops among small business

Confidence and conditions dropped among small and medium-sized businesses during the March quarter, a National Australia Bank survey shows.

AAP

'Decent chance' of economic downturn in Australia, as experts predict US recession by 2024

It's only been two years since the COVID-19 pandemic began, but economists are already speculating about when the next recession could happen.

ABC News

More signs of rate rise sooner than later

The Reserve Bank of Australia warns in the minutes of its April board meeting that rising inflation has brought forward the timing of a cash rate rise.

AAP

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The Guardian - AU

Underestimated: why young women are shying away from economics

Fewer young women are taking up economics study, and many who do are underestimating how good they are at it. It could have consequences far beyond the classroom

ABC News

Canada and South Korea hike interest rates, Australian shares lift 0.6pc

Australian shares have posted solid gains ahead of the Easter long weekend, while surging inflation has prompted central banks in South Korea, Canada and New Zealand to lift interest rates aggressively.

The Guardian - AU

What key numbers should Australian politicians – and voters – know and care about?

Anthony Albanese fluffed jobless and cash rate questions but other figures indicate where the country is heading

The Guardian - AU

‘I’ll fess up’: Anthony Albanese tries to make a virtue of not knowing unemployment or cash rate

Labor leader makes mistake on day one of campaign as Scott Morrison embraces former NSW MP who said PM ‘got the welcome he deserved’ during bushfires

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ABC News

Anthony Albanese stumbles, can't name cash or unemployment rate on day one of federal election campaign

Anthony Albanese says he made a mistake after being unable to recall key economic figures while trying to spruik Labor's credentials for government. The Opposition Leader says he takes full responsibility for the mistake.

ABC News

The Loop: Craig Kelly egged, PM's path now clear to call election, and borrowers warned to brace for falling house prices

Here's your TL;DR for today's news.

ABC News

Borrowers should brace for a 15 per cent fall in home prices as interest rates rise, warns RBA

The Reserve Bank is confident most borrowers will be able to cope with rising interest rates, but it also warns recent buyers in particular should brace for falling property prices.

The Canberra Times

Rising rates will put pressure on default risk

Rising interest rates will be a juggling act for the RBA with debt serviceability

The Guardian - AU

The RBA’s decade without a rate rise is coming to an end – but the market’s expectations are absurd

A 3% cash rate, let alone one next year, would likely destroy the economy and the housing market

AAP

No impact on rates from budget: Treasury

Treasury does not believe the $39 billion worth of spending in last week's budget will have a material impact on inflation or interest rates.

AAP

RBA warns watching inflation, wages data

The Reserve Bank of Australia board has left the cash rate unchanged, but warns it will be monitoring inflation and wages figures in coming months.

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