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The Latest Breaking News from Reserve Bank

Is it inflation, or are businesses just greedy?

Greedflation: It's the latest buzzword in economics – is it behind soaring company profits?

Newsroom.co.nz

Reserve Bank faces new inflation headwinds as immigration surges

This week's interest rates decision will be a tough one that may yet disappoint mortgaged homeowners and turn NZ back down the path to recession, writes Andrew Patterson.

Newsroom.co.nz

Federal budget 2023: Does a budget focused on the cost of living mean inflation and interest rates could get worse?

Treasurer Jim Chalmers is adamant that his budget will not make inflation worse and force the Reserve Bank's hand on interest rates — but economists are divided, with some saying it paves the way for a rate hike in the coming months.

ABC News

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Cyclone response shows cash is king

An industry forum headed by the Reserve Bank is looking to learn from cash shortages during Gabrielle.

Newsroom.co.nz

Alan Kohler: Why this week’s RBA meeting was different

Jim Chalmers is touting 'responsible' spending. Can it be “responsible” in the context of the battle by the RBA to slay inflation?

The New Daily

Reserve Bank official says Australian population rebound may add to inflationary pressures

RBA official Marion Kohler says recovery in population could have ‘unanticipated or more pervasive effects’

The Guardian - AU

Michael Pascoe: You want more RBA independence, Treasurer? Cop this

“So you think the Reserve Bank board lacks ticker, Jim? You think the focus on getting inflation down needs to be sharpened? Well cop this.”

The New Daily

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RBA surprise interest rate hike catches out seasoned pundits and borrowers alike

For many of the Reserve Bank’s first 10 increases, the question was the size of the hike – not whether one was coming

The Guardian - AU

Reserve Bank hikes cash rate to 3.85 per cent, ASX hits three-week low, Qantas appoints new CEO to replace Alan Joyce

The RBA has surprised markets and economists by lifting interest rates to 3.85 per cent, after being widely predicted to stay on hold for a second month. Look back on the day's events as they happened with our blog.

ABC News

Michael Pascoe: How the RBA is making inflation worse

Is there a better example of the deficiencies of monetary policy than the RBA prolonging higher rent inflation by lifting rates to theoretically reduce inflation?

The New Daily

Paul Keating warns treasurer not to remove government's power to override RBA decisions

Former prime minister Paul Keating says it would be an error for the Parliament to remove a power that allows the government to overrule the Reserve Bank's actions.

ABC News

Inflation has fallen, but one or two more interest-rate rises are still likely

Australia’s inflation rate has fallen from its 30-year high of 7.8% in the December quarter of 2022 to 7.0% in the March quarter of 2023. But it’s still likely the Reserve Bank of Australia will push up interest rates again before the end of the year to drive inflation back…

The Conversation

Inflation falls from peak, but still more than twice the top of the Reserve Bank's target for interest rates

Australia's inflation rate is falling from its December peak, with prices increasing over the March quarter at the slowest pace in more than a year.

ABC News

Ensuring financial inclusion, when NZ can't bank on the big banks

Softer rules for smaller institutions would be a bold call for MPs – and one they might regret, if the troubles that have hit SVB, Credit Suisse and others extend down to this corner of the globe, says Jonathan Milne.

Newsroom.co.nz

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The Conversation

It might be tempting to blame inflation on profits, but the reality is still about high demand and short supply

Despite the latest inflation figures for New Zealand coming in slightly lower than expected by many economists, the rate remains stubbornly high. At 6.7% for the year to March 2023, the inflation rate is more than double the Reserve Bank’s target range of 1-3%.

The New Daily

If the RBA were a company, the governor would be out of a job

If the RBA were a company, the board would have and should have sacked Philip Lowe long ago. But they couldn’t; they knew it and he knew it.

ABC News

The criticisms behind the Reserve Bank review's recommendations for a new board, updated mandate

The Reserve Bank review wants to remove economic prosperity as an objective of monetary policy, with some economists arguing house prices and household debt are outside its domain.

Newsroom.co.nz

Surging food prices a risk to managing down inflation

Shares in The Warehouse Group slumped to a new low in the face of recession fears, but there are hopes the Red Shed's increased grocery sales will give Kiwi more competitive food prices. Andrew Patterson reports.

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The New Daily

Michael Pascoe: The fallacy at the heart of the Reserve Bank of Australia review

Instead of tackling the fallacy and lie, the review came up with this: 'There should be increased joint work between Treasury and the RBA'.

The New Daily

Coalition, Labor at odds over RBA board appointments

As the Albanese government seeks to enact the recommendations of a review of the Reserve Bank, the coalition has queried two new appointments.

The New Daily

Madonna King: The world has evolved, and that’s why the RBA should too

Jim Chalmers’ in-principle support for the recommendations released in yesterday’s review of the RBA is also welcome.

ABC News

Does everyone welcome the Reserve Bank overhaul?

Economists have welcomed many of the proposed changes to the Reserve Bank of Australia, but some have raised concerns.

The Guardian - AU

A singular focus on interest rates, fresher board, fewer meetings – but what else could change at the RBA?

The Reserve Bank overhaul won’t fix mistakes of the past, but that’s not the point, analysts say

The New Daily

Reserve Bank revolution: Jim Chalmers reshapes the RBA for the 21st century

The scale of the RBA changes recommended by the review is large – there is an entire section devoted to a year-long implementation process.

The Guardian - AU

Afternoon Update: Lowe responds to RBA shake-up; rare solar eclipse in images; and K-pop star dies at 25

RBA governor welcomes review of central bank as treasurer announces all 51 recommendations will be implemented

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