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The Latest Breaking News from Reserve Bank of Australia

Australia to Remove British Monarch from Banknotes

Australia will erase the British monarch from its banknotes, replacing the late Queen Elizabeth II's image on its $5 note with a design honoring Indigenous culture, the central bank said Thursday. The decision to leave her successor King Charles III off the $5 note means no monarch would remain on…

Asharq Al-Awsat

Australian $5 note redesign won't feature King Charles, as Queen Elizabeth portrait removed in update

King Charles won't be replacing the late Queen on the new $5 note, after the Reserve Bank decides to honour First Nations culture instead.

ABC News

The Reserve Bank of Australia should hold off on raising rates again next month. Here’s why

Allowing time for the impact to flow through would be sensible. Inflation is falling, it’s just not yet visible in official figures

The Guardian - AU

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RBA boss to stay on if reappointed

Reserve Bank of Australia governor Philip Lowe says he has no plans to resign when his term is up next September.

AAP

No Christmas miracle: RBA lifts cash rate to 3.10 per cent

The cash rate is now the highest it has been in a decade.

Newcastle Herald

Country Age Pension Fuel Card surcharges labelled a 'rort', as value stalls against inflation

Pensioners are paying surcharges of up to 3.75 per cent each time they swipe their cards, which a user has labelled a "rort".

ABC News

Review panel pledges to revitalise RBA

An independent panel set up to examine the Reserve Bank of Australia says it will make recommendations to "revitalise" the central bank.

AAP

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RBA signals it may pause further interest rate rises

Minutes of November Reserve Bank of Australia meeting say board is ‘prepared to keep rates unchanged’ while it assesses state of economy and inflation

The Guardian - AU

RBA outlines gloomier outlook for economy

The Reserve Bank of Australia sees inflation peaking higher, slower growth and a higher jobless rate as economic challenges intensify.

AAP

Interest rates have gone up again, pushing some Australian mortgage borrowers beyond their 'stress test' limits

The latest rate hike by the Reserve Bank of Australia means mortgage borrowers have been pushed to the limits — and beyond — of their "stress test" buffer.

ABC News

Big banks begin passing on rate rises

Mortgage holders are bracing for higher repayments in the wake of another 25 basis point rate hike by the Reserve Bank of Australia.

Newcastle Herald

Blunt instrument of interest rates targets inflation but hits borrowers and jobs

Editorial: Interest rates the hammer and the nail

Newcastle Herald

New home lending falls 8.2 pct in Sept

The value of owner-occupier housing loans fell 9.3 per cent in September, with total new loan commitments for housing down 8.2 per cent.

AAP

RBA sees the pain but says rates must rise

Reserve Bank of Australia Governor Philip Lowe has underlined his case for raising interest rates, warning that not doing so could have dire consequences.

AAP

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ABC News

Australian home prices fall for six months in a row as interest rate rises bite

Home prices have been dropping over the past six months as the Reserve Bank of Australia has raised interest rates from a record low in May to curb red-hot inflation. And with interest rates set to keep rising, more falls are expected.

Pedestrian.tv

Previously-Secret Documents Reveal The Reserve Bank Reckons House Prices Are Set To Drop By 20%

The Reserve Bank of Australia predicts house prices could fall by 20% by the end of 2024, which would be the biggest drop since the 1980s.

Newsroom.co.nz

Central banks stay the course as markets grow increasingly nervous

Oil prices surge 13 percent after dramatic supply cut by oil producing nations, putting new pressure on inflation and interest rates.

AAP

Risk Optus breach can weaken banks: RBA

The Reserve Bank of Australia is warning that large-scale data breaches and cyberattacks could destabilise financial institutions.

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ABC News

Which banks are passing on the interest rates to borrowers? What about savers?

The major lenders were quick to pass on the interest rate rise to mortgage holders, but only certain savers will see the benefits of the Reserve Bank of Australia's latest hike.

ABC News

As Reserve Bank lifts interest rates again, more households seek relief from Foodbank

The Reserve Bank of Australia is still prepared to keep lifting interest rates, even as more households struggle financially, with many now seeking food relief.

Al Jazeera

Australia breaks with global trend, slows interest rate hikes

Reserve Bank of Australia lifts key rate by 0.25 percentage point in nod to uncertain global economic outlook.

The Guardian - AU

Reserve Bank of Australia reports loss of $37bn and plans to cut dividends to Treasury

Central bank in negative equity after 2021-22 loss, a review of its pandemic bond-buying program has found

AAP

RBA dividend not expected for years

The central bank has defended its $281 billion bond-buying program but says it has had serious consequences for its balance sheet.

The Guardian - AU

Interest rates all but certain to rise in October but end of big hikes nearing, RBA governor says

Reserve Bank board will consider either a 25 or 50 basis point rise at next month’s meeting, Philip Lowe tells MPs

AAP

Global economy poses challenges for RBA

The head of the Reserve Bank of Australia is facing questions about rapid interest rate rises putting pressure on mortgage holders around the country.

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