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The Latest Breaking News from Reserve Bank

Reserve Bank sticks to smaller interest rate hike despite inflation shock

The Reserve Bank opts against a return to super-sized rate hikes, announcing a 0.25 of a percentage point rise on Melbourne Cup Day, with major banks starting to follow.

ABC News

Interest rate updates: RBA lifts cash rate by 0.25 of a percentage point to nine-year high of 2.85pc, NAB first to pass on — as it happened

The Reserve Bank lifted interest rates for the seventh month in a row, taking the cash rate to 2.85 per cent — as it happened.

ABC News

ASX rises as Reserve Bank lift rates, Dow Jones posts biggest monthly surge in 47 years

Australian shares post significant gains as the Reserve Bank of Australia lift rates, while Wall Street's industrial index, the Dow Jones, records its biggest monthly gain since 1976.

ABC News

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Treasurer says inflation ‘number one challenge’ – as it happened

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The Guardian - AU

Morning Mail: voters want power bill help, Kohli in hotel security breach, a taxing question for Plibersek

In today’s newsletter: a survey finds more than two-thirds of respondents want the government to intervene in energy market; Tanya Plibersek says she’d ditch tax cuts; and a flood rescue support package will be announced

The Guardian - AU

Australian home prices fall for six months in a row as interest rate rises bite

Home prices have been dropping over the past six months as the Reserve Bank of Australia has raised interest rates from a record low in May to curb red-hot inflation. And with interest rates set to keep rising, more falls are expected.

ABC News

ASX rises ahead of the Reserve Bank's anticipated rate hike; Wall Street, global shares advance

Australian shares rise, tracking overnight gains on Wall Street as investors await the Reserve Bank's interest rate decision due on Tuesday.

ABC News

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Rate rise expected on Melbourne Cup day likely to be followed by higher inflation outlook

Two of Australia’s biggest banks predict the Reserve Bank will revise the inflation rate to 8% – the highest since March 1990

The Guardian - AU

In an economy blighted by inflation, Australians like Dimuthu are collateral damage

Dimuthu Peterson is building a home and is trapped between rising rates and rents. The Perth mother feels hopeless in the current economy dogged by inflation.

ABC News

RBI to hold special MPC meet on November 3 on preparing inflation report

MUMBAI: The Reserve Bank has called a special meeting of the Monetary Policy Committee (MPC) on November 3 to prepare a report on its failure to keep retail inflation below 6 per cent for three consecutive quarters.

The Times of India

Reserve Bank reports record $40bn loss on government bonds purchased during Covid pandemic

RBA will likely not pay government dividends for years until negative equity of $12.4bn is restored and built up

The Guardian - AU

Why is the cost of living going crazy even as the Reserve Bank raises rates?

Overseas issues and a wildfire housing market have combined to drive inflation growth that hasn’t been seen for decades

The Guardian - AU

Alan Kohler: Jim Chalmers delivers a responsible budget, with no repair and no relief

The last time a new government brought down its first budget, in 2014, it was a disaster for all concerned.

The New Daily

Jim Chalmers’ 2022-23 budget mantra: whatever you do, don’t fuel inflation

Terrified by the prospect of further stoking the worst inflation in three decades, Treasurer Jim Chalmers and Finance Minister Katy Gallagher have delivered a budget that takes out of the economy about as much as it pumps into it.

The Conversation

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ABC News

Sydney house prices have dropped by 10 per cent this year, according to latest data

House prices in Sydney fell by 10 per cent since the peak in February, with the median value in the city dropping to $1,042,276.

The New Daily

More than $100,000 wiped from Sydney property prices as rate hikes bite

Property prices are plunging fast as rising interest rates push down property prices, leaving the market mired in uncertainty.

Pedestrian.tv

Previously-Secret Documents Reveal The Reserve Bank Reckons House Prices Are Set To Drop By 20%

The Reserve Bank of Australia predicts house prices could fall by 20% by the end of 2024, which would be the biggest drop since the 1980s.

The New Daily

Jim Chalmers is ignoring his own warnings of a possible recession

The Treasurer appears to be ignoring his own warnings ahead of the federal budget about the need to be prepared for a global recession.

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The Conversation

Global recession looks likely. Even if Australia escapes it, we are in for a bad couple of years

Economics is confusing at the best of times. But, at the moment, it’s downright counter-intuitive.

The Conversation

Our environmental responses are often piecemeal and ineffective. Next week's wellbeing budget is a chance to act

Treasurer Jim Chalmers’ federal budget next week will for the first time include a section on wellbeing, which aims to measure how well Australians are doing in life.

The Guardian - AU

New Zealand inflation near record high as wisdom of interest rate rises questioned

Latest figures defy widespread predictions inflation would fall, as the central banks readies an ‘outsized’ rate hike

ABC News

How does the RBA set interest rates each month? Why was this month's decision a close call?

The Reserve Bank reveals its recent decision to slow down interest rate increases was "finely balanced" and explains the process by which it arrives at its monthly decisions.

The Guardian - AU

RBA rate rise ‘finely balanced’ with risk of slowdown but more increases still likely, minutes say

October meeting notes show Reserve Bank’s smaller hike took into account expected reduced growth due to global inflation

Newsroom.co.nz

More rate hikes are coming - how will the kiwi dollar fare?

As inflation grows and consumer spending tightens, the Reserve Bank is likely to try to protect the NZD against competing currencies with further rate rises. Tina Teng explains why.

The Guardian - AU

Fixed or variable? A look at how home loan rate options across Australia stack up

After crunching the numbers, it’s clear that mortgage holders shouldn’t just do nothing, says RateCity’s head of research

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