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The Latest Breaking News from Reserve Bank

Immigration isn't driving inflation, new report concludes

Business and investing: Hawkish central banks keep investors on edge; ERoad takeover offer sends share price rocketing; Bitcoin arises from its slumber. Andrew Patterson reports.

Newsroom.co.nz

Why does the RBA want unemployment to go up? And what has it got to do with inflation?

The Reserve Bank deputy governor’s assessment that unemployment was ‘too low’ to tame inflation drew anger from unions. But was it correct?

The Guardian - AU

‘Per capita recession’: Banks forecast longer downturn as more interest rate rises loom

Australia facing a multi-year per capita recession and even a quarter of negative economic growth in early 2024 with higher interest rates.

The New Daily

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‘Finely balanced’: June interest rates hike was sparked by fresh inflation fears, minutes reveal

The Reserve Bank's decision to raise interest rates to a fresh decade high in June was "finely balanced", minutes reveal.

The New Daily

Faruqi says housing fund standoff ‘not about playing political games’ – as it happened

This blog is now closed

The Guardian - AU

Reserve Bank officials to shed light on rates pathway

Public appearances from top Reserve Bank officials will be worth watching following hawkish posturing from Australia's central bank.

AAP

There has to be a better way to measure a recession

Did NZ really dip into recession this year? Not until unemployment starts to rise ... that's the measure that affects real people. Jonathan Milne reports.

Newsroom.co.nz

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We know how to boost productivity and lift wages – but it will take time and much tougher tax reform

The slide in Australia’s labour productivity – real gross domestic product per hour worked – has become a real concern. In the past year, labour productivity has fallen 4.6%.

The Conversation

Reserve Bank underpaid almost 1200 staff

Some 1200 staff of the Reserve Bank missed out on wages they were entitled to due to an error calculating payments for leave.

AAP

Australia’s supermarket duopoly didn’t start the inflation crisis, but it is making it worse

Market concentration is allowing companies to reap record profits while workers and their families struggle to get by

The Guardian - AU

Don’t blame workers for falling productivity – we’re not the ones holding it back

Suddenly Australians are being told we need increase productivity if we want our wages to merely keep up with inflation.

The New Daily

Don't blame workers for falling productivity – we're not the ones holding it back

Suddenly Australians are being told we need to produce more if we want our wages to merely keep up with inflation.

The Conversation

Struggling Australians can cut back spending or work more to get into ‘positive cash flow’, Philip Lowe says

The Reserve Bank governor says rates will keep being lifted if necessary, despite ‘significant financial pressure’ for some

The Guardian - AU

Michael Pascoe: Is the RBA acting out of spite or just lost the plot?

Passing without notice in April, the Reserve Bank pulled a neat little trick, apparently making multiple billions of dollars in losses “disappear”. I’ve

The New Daily

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The Conversation

Why Reserve Bank Governor Philip Lowe wants to damage the economy further

Reserve Bank Governor Philip Lowe and his board have pushed up interest rates yet again – for the twelfth time in 14 months – because they want to damage the economy further.

The New Daily

‘Difficult to understand’: Mortgage bills to rise again as RBA hikes interest rates in June

Australian households will be forced to endure a 12th hike in interest rates after the Reserve Bank moved to push up mortgage bills in June.

The New Daily

Worst mortgage stress since GFC as Reserve Bank board ponders rates hike

Another 30,000 Australians could be thrown into risk of mortgage stress if the RBA raises interest rates again.

The Conversation

Don't blame Australia's lowest-paid workers if interest rates rise again

The odds have been shortening on the Reserve Bank of Australia lifting interest again, and Australia’s workers are again being blamed for driving inflation.

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Newsroom.co.nz

Why you'll pay more interest on your mortgage – maybe forever

Reserve Bank analyses whether interest rates will need to be pegged higher longterm, to keep inflation down. Jonathan Milne reports.

The Guardian - AU

‘I’m obviously not first choice’: rental crisis forcing older Australians back into share houses

As the vacancy rate drops to 1.2%, the Reserve Bank chief advises renters to consider sharing – but that is a very difficult option for many people

The Guardian - AU

Afternoon Update: RBA governor suggests more share houses; inflation rises; and vapour blasts from a Saturn moon

Underlying inflation and price pressures easing, shrinking the likelihood of another RBA rate hike on Tuesday

The New Daily

Pain at petrol pump drives surprise jump in inflation

Petrol prices have driven a surprise jump in inflation, as RBA governor Philip Lowe flagged more pain to come for millions of Australians.

The Guardian - AU

Australia’s inflation rate rose to 6.8% in April driven by energy prices but price pressures eased

Underlying inflation dropped to 6.5% in April from 6.9% in March, reducing the chances of another Reserve Bank rate rise in June

The Hindu

Bank rate raised by 1 PC to curb inflation

Fifty years ago, the Reserve Bank of India announced an unprecedented increase in the bank rate from six to seven per cent in a massive effort to curb inflation

Newsroom.co.nz

This is the biggest house sale loss – but worse is to come as interest rates rise

Today's Reserve Bank rates decision is heralded by economists as its most important since Covid. An anticipated OCR hike will put new pressure on mortgaged homeowners in election year. Jonathan Milne reports.

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