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The Latest Breaking News from Reserve Bank

Households are clearly cutting spending as rates rise. The RBA must heed this warning

The sharp fall in retail trade is more evidence the Reserve Bank should hold off raising interest rates further

The Guardian - AU

The risk of Australia entering recession has just risen

From a drop in retail sales to falling house prices, there are signs pointing towards a recession in Australia. How will the Reserve Bank respond?

ABC News

Reserve Bank expecting up to 800,000 fixed home loan contracts will end this year

As charities report increases in workers needing support amid rising living costs, the Reserve Bank is forecasting household pressures will increase as fixed-term home loans end.

ABC News

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Fuel retailer warns of cost-of-living 'trade-offs'

Ampol says there are trade-offs to be made between living costs, fuel security and the energy transition.

AAP

Small print shows the impact of inflation isn’t 7.2% but a massive 8.7%

Stats NZ publishes a figure for consumers price index plus interest payments, that undermines Government's claim that 'inflation has peaked'. Jonathan Milne reports.

Newsroom.co.nz

Inflation peak to cause even higher mortgage bills in early 2023, economists say

Australian homeowners are being warned to brace for at least two more interest rate hikes in early 2023 after fresh inflation figures.

The New Daily

Inflation rises more than forecast, increasing interest rate hike odds

Inflation comes in higher than expected, increasing the chances of another Reserve Bank interest rate rise next month.

ABC News

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Annual inflation hits 7.8 per cent

Official inflation figures show inflation hitting 7.8 per cent as cost-of-living pressures continue to weigh on household budgets.

AAP

ASX rises for fourth day in a row as investors focus on this week's inflation figures — as it happened

Australian shares reach a new nine-month high amid a day of volatile trade. Investors are awaiting the latest quarterly inflation numbers, which will influence the Reserve Bank of Australia's next move on interest rates.

ABC News

Recession fears if interest rates hiked

Deloitte Access Economics warns Australia could fall into a recession if the central bank lifts interest rates again, with households already hurting.

AAP

Economy will be a rough ride no matter what

While Jacinda Ardern’s resignation is not likely to cause economic instability, new Prime Minister Chris Hipkins will have to contend with significant existing problems such as the cost of living crisis and declining business confidence, argues Dr Murat Ungor.

Newsroom.co.nz

One wedding, two honeymoons – and ultimately a funeral

To move on Three Waters, the retirement age and a capital gains tax could be the nails in Chris Hipkins' coffin – but they would provide some substantive additional lines to the epitaph of a government that has achieved less of its reform agenda than some supporters hoped, writes Jonathan Milne.

Newsroom.co.nz

India to be a $3.7 trillion economy in 2023, says RBI article

MUMBAI: India will be a $3.7 trillion economy in 2023, maintaining its lead over the UK as the fifth largest economy of the world, a Reserve Bank article said on Thursday stressing that the macro economic stability is getting entrenched.

The Times of India

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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The Times of India

States' fiscal health show improvement: RBI report

MUMBAI: States' gross fiscal deficit (GFD) is budgeted to decline from 4.1 per cent of gross domestic product (GDP) in Covid-hit 2020-21 to 3.4 per cent of GDP in 2022-23 showing improvement in their fiscal health, said a Reserve Bank report on Monday.

ABC News

Why your mortgage interest rate could rise further, even after the RBA stops hiking

Australian banks — which made bumper profits last year — are facing soaring funding costs as they need to repay $188 billion of cheap money borrowed from the Reserve Bank in the coming years, which is bad news for home loan borrowers.

The Times of India

Cryptos are nothing but gambling, their value only make-believe: RBI governor

MUMBAI: Reserve Bank governor Shaktikanta Das on Friday reiterated his call for an outright ban on cryptocurrencies, saying these are “nothing but gambling” and their perceived “value is nothing but make-believe."

The Times of India

India's forex reserves drop by $1.268 billion to $561.583 billion

MUMBAI: India's forex reserves declined by $1.268 billion to $561.583 billion for the week ended January 6, the Reserve Bank said on Friday.

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Newsroom.co.nz

What 2023 has in store for the New Zealand economy

Economics is a dark art at the best of times, but with so many balls in the air, few things are a given.

The Conversation

Global economy 2023: how countries around the world are tackling the cost of living crisis

The rising cost of living is biting businesses and households around the world. Editors from across The Conversation’s international network have asked local academic experts to explain how their countries and regions are tackling this issue, as well as the 2023 outlook for prices and interest rates where they live.

The Times of India

SBI, ICICI Bank, HDFC Bank continue to remain systemically important banks: RBI

MUMBAI: TThe Reserve Bank of India (RBI) announced on Monday that State Bank of India (SBI), ICICI Bank, and HDFC Bank are still considered Domestic Systemically Important Banks (D-SIBs).

The New Daily

Inflation crossroads: Where cost-of-living crisis, interest rates could go in 2023

It’s been a rollercoaster year for families as a cost of living crisis has combined with steep interest rate hikes to squeeze millions.

The Times of India

Currency in circulation rises by 83% since demonetisation in 2016

NEW DELHI: Demonetisation of the high value currency notes of Rs 500 and Rs 1,000 did not have any discernible impact on currency in circulation (CIC) in the country, which has soared by almost 83 per cent since its announcement on November 8, 2016.

The Times of India

India's current account deficit widens to $36.4 billion; 4.4% of GDP in Q2: RBI data

MUMBAI: Widening trade gap pushed up the country's current account deficit to $36.4 billion or 4.4 per cent of the GDP in the second quarter of the current fiscal, as per data released by the Reserve Bank on Thursday.

The Times of India

Payment system operators to report fraud on RBI's DAKSH from January 1

MUMBAI: In order to streamline reporting, enhance efficiency and automate the payments fraud management process, the RBI on Monday said the fraud reporting module will be migrated to DAKSH -- the Reserve Bank's advanced supervisory monitoring system -- from January 1.

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