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The Latest Breaking News from Reserve Bank

Jim Chalmers says inflation will go higher, but unions are right to push for higher wages

Treasurer says it is ‘uncontroversial’ for unions to note that wage rises are below inflation, and suggests there may be a place for workers’ representative on RBA board

The Guardian - AU

Believe in RBA to avoid recession: Lowe

Australians must trust in the Reserve Bank’s plan to lead inflation back down to regular levels, or risk triggering a recession, RBA governor Philip Lowe says.

Crikey

What does the Reserve Bank’s 3.5% pay rise ‘anchor’ mean for Australian workers?

Inflation is predicted to reach 7% by year’s end but the RBA’s Philip Lowe says wages growth of about 3.5% will keep economy moving

The Guardian - AU

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ACTU Secretary Sally McManus says Reserve Bank in 'boomer fantasy land' over wage-price spiral fears

ACTU Secretary Sally McManus warns that the Reserve Bank is out of touch and living in "boomer fantasy land" if it thinks workers can afford real cuts to their wages.

ABC News

As fixed mortgages end and rates rise, many risk losing their homes

Almost 40 per cent of Australians with mortgages who have locked in ultra-low fixed interest rates will roll off them as soon as next year, raising fears that more people will default on their loans, creating financial system instability.

ABC News

Still no sign of wage inflation: Burke

Employment Minister Tony Burke insists there is still no sign of wage inflation, noting Reserve Bank governor Philip Lowe's warning over excessive increases.

AAP

RBA appoints new assistant governor

The Reserve Bank has appointed Bradley Jones as assistant governor for the financial system, replacing Michele Bullock who is now deputy governor.

Crikey

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More interest rate pain: RBA’s sobering inflation warning to households

Australians must brace for several years of high inflation and rising interest rates, Reserve Bank governor Philip Lowe warned in a speech on Tuesday.

The New Daily

The Loop: Aussies warned of holiday travel disruptions, International Rugby League bans transgender women, and boy hears for first time

Get up to speed on today's headlines with The Loop.

ABC News

High inflation to persist for ‘some years’, warns Reserve Bank boss

The governor of the Reserve Bank has warned high inflation is likely to persist for years to come as the global economy works through major supply issues.

The New Daily

The curious, eccentric and slightly troubling world of the RBA’s sponsorships

Why does the Reserve Bank sponsor ideologically aligned think tanks? Is it because there are so few high-quality independent research bodies?

Crikey

Reserve Bank governor says inflation is rising, but he doesn't see a recession on the horizon

The RBA admits it suffered "reputational damage" when it tried to wind back its COVID-19 pandemic stimulus program.

ABC News

RBA warns of damage from rising inflation

Reserve Bank governor Philip Lowe has warned of the damage inflation can inflict on the economy and why it needs to be brought under control.

AAP

Where did the RBA find evidence of wage growth?

The Reserve Bank of Australia is facing a federal government review, and we found one good reason for it: Wages growth data has come from a source that an expert called not "statistically valid".

ABC News

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The Conversation

The RBA's pre-COVID failure to cut interest rates faster may have cost as much as 270,000 jobs

The Reserve Bank of Australia is about to be put under the microscope in the first major review of its performance in at least 30 years, and perhaps forever.

AAP

Recession not on horizon, says RBA's Lowe

Reserve Bank governor Philip Lowe says a recession in Australia is not on his horizon, but after the past two years nothing can ever be ruled out.

Crikey

Job gains give confidence modest lift

Consumer confidence gained a modest lift in the past week from rising employment, but concerns remain over inflation and interest rates.

ABC News

Market sell-off a 'real downturn' and risk of global recession close to 50-50, analyst warns

The Australian share market has dropped by more than 15 per cent from its record high, sliding closer towards a bear market. Some investors may be tempted to "buy the dip", but analysts say there is "further downside" ahead.

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Crikey

The case for putting union boss Sally McManus on the Reserve Bank board

The nine-member board of the RBA is made up of accomplished individuals, but more diversity to break up its current, conservative viewpoint would be welcomed.

ABC News

Giving up insurance, choosing meat-free meals and skipping breakfast: What Australians are doing to survive the cost-of-living crisis

The multi-pronged cost of living crisis has spared few Australians from increased financial stress. In response, cash-strapped households have been forced to find new ways to cut back spending.

Crikey

RBA’s Lowe to expand on outlook views

Reserve Bank governor Philip Lowe will address a conference on Tuesday on Australia’s economic outlook and monetary policy.

AAP

RBA's Lowe to expand on outlook views

Reserve Bank governor Philip Lowe will address a conference on Tuesday on Australia's economic outlook and monetary policy.

ABC News

The ASX opened strong after the US interest rate rise buoyed Wall Street. But it hasn't cancelled out Tuesday's losses

It's been a dramatic few days on the Australian stock market, with steep losses followed by a brief rise on Thursday morning. But there are still more twists and turns to come.

The New Daily

Alan Kohler: Albanese’s note to self – Don’t get blamed for the Morrison crises

Governments usually change after a recession, not before one, so the job is a nice one – to manage the recovery. But this time is different.

The New Daily

Albanese welcomes pay rise for pandemic ‘heroes’

Prime Minister Anthony Albanese has welcomed the Fair Work Commission's decision to raise the minimum wage by 5.2 per cent amid concerns about inflation.

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