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The Latest Breaking News from Reserve Bank

Flawed RBA predictions have 'damaged credibility'

The Reserve Bank's former governor has delivered a scathing assessment of its recent performance as current chief Philip Lowe faces a parliamentary grilling.

AAP

Interest rates could peak at 4.1% amid sinking consumer confidence in Australia, says NAB

Major bank believes business conditions and confidence are improving as it sets cash rate prediction higher than other banks

The Guardian - AU

Consumer confidence plummets as cash rate lifts

The latest cash rate hike has mortgage holders worried as consumer confidence plunges to its lowest level since April 2020.

AAP

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'Nothing untoward' in RBA head meeting bankers: Shorten

Cabinet minister Bill Shorten has defended Philip Lowe's decision to give a private briefing to bankers about interest rate rises.

AAP

Morning Mail: sporting concussion’s hidden trauma, asylum seeker visa change, Gabrielle hits New Zealand

The death toll of 33,000 in the Turkey-Syria quake could double as parts of NZ hunker down as a second major storm in as many weeks

The Guardian - AU

Alan Kohler: The undemocratic independent Reserve Bank

Politicians refer so often to the “independent” Reserve Bank that its initials should change to the IRBA, writes Alan Kohler.

The New Daily

Overworked, underpaid and fed up: How these Aussies have been pushed to the brink

These people say they're overworked, underpaid and fed up. The reason behind their frustrations is on the rise in Australia, and rated the number-one issue for voters in the country's most-populous — and expensive — state.

ABC News

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Treasurer says government's energy market intervention is already working to provide household relief

Treasurer Jim Chalmers tells ABC Insiders the federal government's intervention is putting downward pressure on electricity prices, and inflation remains the economy's greatest challenge.

ABC News

Jim Chalmers confident Australia will avoid recession despite warnings of more interest rate rises

The treasurer also noted ‘very encouraging’ signs on power prices falling, saying Labor’s energy price relief package was working

The Guardian - AU

RBA governor faces grilling on 'hawkish' rate hike talk

Reserve Bank governor Philip Lowe will appear before parliamentary committees this week after what's been labelled as a "hawkish" shift for the central bank.

AAP

Intervention for energy prices working, says treasurer

Treasurer Jim Chalmers says intervention in the energy market is working and that a decision will be made mid-year on the fate of RBA governor Philip Lowe.

AAP

Australia’s economy running hot despite rising interest rates, but experts urge caution

Building and business insiders warn the Reserve Bank’s recent hawkish approach risks long-term harm for households and commerce

The Guardian - AU

RBI updates 'Alert List' of entities not authorised to deal in forex trading

MUMBAI: The Reserve Bank on Friday updated its 'Alert List' for the public on unauthorised forex trading platforms to include names of entities/platforms/ websites which appear to be promoting such entities.

The Times of India

The RBA’s latest inflation and wage predictions help explain why Australia’s interest rate nightmare isn’t over

The main worry is workers might demand more pay, employers will pass that on to prices, and a wage-price spiral will take off

The Guardian - AU

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ABC News

The Reserve Bank will keep raising interest rates, but don't expect more supersized jumps

The Reserve Bank confirms that Australians can expect to see at least two more rate rises, but appears to favour a slow and steady approach over any more supersized hikes.

AAP

RBA backs power bills relief plan to help ease costs

As Treasurer Jim Chalmers has seized on support for a power bill relief plan as he meets his state and territory counterparts online.

The Guardian - AU

Reserve Bank causing households ‘too much pain’ with rate rises, says union chief Sally McManus

Australian union leader says the absence of labour market expertise on the RBA board had caused ‘missteps’

The Guardian - AU

The Reserve Bank wants unemployment to rise. It should be careful what it wishes for

We had all better hope the coming slowdown doesn’t happen before the full effect of rate rises is felt

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ABC News

ASX closes higher as traders prepare for more rate hikes to come and companies report mixed half year results — as it happened

Equity traders added back almost as much as was wiped off the ASX yesterday, following that ninth hike by the RBA, as more companies reported their earnings. Catch up on the day's financial news and insights from our specialist business reporters on our live blog.

AAP

Economists say recession still possible as rates bite

As the Reserve Bank weighs up further rate rises, there are concerns domestic and global factors could stall Australia's economy.

The New Daily

How high will interest rates go? RBA flags more mortgage pain in 2023

Australians are being warned to brace for even more interest rate hikes after the Reserve Bank began 2023 with a fresh mortgage squeeze.

The Conversation

RBA warns of at least 2 more interest rate rises in coming months, as the economic outlook worsens

Australia’s cash rate has hit 3.35%, after the Reserve Bank raised interest rates for the ninth time in a row – and signalled more interest rate pain ahead. The 0.25 percentage point rise adds A$90 a month to a $600,000 variable mortgage.

The Guardian - AU

RBA interest rates: Reserve Bank lifts official rate to 3.35% in record ninth consecutive hike to tame inflation

Mortgage holders likely to feel immediate pain but RBA indicates further increases to come in attempt to bring inflation under control

AAP

Record ninth consecutive increase to official cash rate

The Reserve Bank of Australia has announced a 25 basis point rise in the cash rate, taking it to 3.35 per cent - the highest since September 2012.

ABC News

Reserve Bank raises interest rates, 'expects that further increases will be needed'

The Reserve Bank raises interest rates for the ninth meeting in a row, taking the cash rate target to its highest level since September 2012.

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