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The Latest Breaking News from Reserve Bank

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.

ABC News

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.

The Times of India

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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.

Newsroom.co.nz

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 Conversation

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 Times of India

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 New Daily

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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.

The Times of India

Strings attached to best deals for savers

People are taking advantage of higher interest rates on their savings accounts but it's becoming hard to find a high rate without conditions attached.

AAP

Taxonomy and clear definitions needed to prevent 'greenwashing': RBI deputy governor Rajeshwar Rao

MUMBAI: Reserve Bank deputy governor M Rajeshwar Rao on Thursday called for a taxonomy on green finance to avoid the risk of "greenwashing".

The Times of India

RBA must learn from pandemic errors

The Reserve Bank needs to take on board the lessons learnt from its poorly communicated forward guidance, a parliamentary committee has found.

AAP

Need similar regulations for banks and fintechs if underlying activity is same: RBI deputy governor

MUMBAI: Reserve Bank deputy governor T Rabi Sankar on Wednesday pitched for similar regulation for both banks and non-bank entities like fintechs if they are undertaking the same activity.

The Times of India

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The Guardian - AU

Reserve Bank warns of more interest rate rises and ‘large increases in rents’ amid inflation crisis

RBA’s final meeting minutes reveal concerns about higher spending over summer holidays without Covid restrictions

AAP

All options on the table in 2023: RBA

The Reserve Bank of Australia has been careful not to lock itself into a set pathway for cash rate decisions in 2023.

AAP

Insights shed light on rate hike picture

Insights into the Reserve Bank's latest decision to hike rates will likely be scrutinised as economists attempt to gauge the timing of further rises in 2023.

ABC News

Forced home sales set to rise as borrowers struggle with surging interest rates and mortgage repayments

Australian home owners are spending more of their income on mortgage repayments, and the pain is only set to worsen. Experts say some could be forced to sell.

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news in one place.

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ABC News

Experts reveal their top 100 suburbs tipped to best weather the property downturn

With interest rates rising and property prices falling, it's becoming harder to access housing finance, but analysts say some suburbs still have bright prospects next year.

The Times of India

RBI to promote innovation in financial sector, says governor Shaktikanta Das

MUMBAI: Reserve Bank governor Shaktikanta Das on Wednesday assured financial technology companies (fintech) that the central bank will continue to adopt a participative and consultative approach to facilitate innovation in the financial sector.

AAP

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

New Zealand to end cheaper fuel and fares

Cheaper petrol and public transport will be phased out next year as Jacinda Ardern's government begins the task of fiscal repair.

The New Daily

Michael Pascoe: Shocking news – business lobbyists don’t tell the truth

When dealing with business lobbyists, one must start with the assumption that they are not telling the truth.

ABC News

Consumers hopeful tide will soon turn on interest rates and home prices, but businesses gloomy

Households are hoping interest rates will reach their peak soon and home prices may start to rise. However, rising inflation and interest rates have businesses worried about the future.

The Times of India

Forex kitty soars $11 billion to $561.16 billion

MUMBAI: India's foreign exchange reserves soared by $11.02 billion to reach $561.162 billion for the week ended December 2, Reserve Bank data showed on Friday.

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