The Latest Breaking News from Reserve Bank

The Fair Work Commission has announced a rise in the minimum wage of 5.2% or $40 a week, taking it to $812.60 a week or $21.38 an hour.

Reserve Bank of Australia governor Philip Lowe has justified the decision to raise the cash rate by 50 basis points last week in the face of rising inflation.

Treasurer Jim Chalmers is about to commission an independent review of the Reserve Bank of Australia. Refreshingly, his election promise was bipartisan – both sides of politics want it.

Here’s a wild idea for economists to smile at condescendingly: How about the Reserve Bank stands back and lets this inflation episode run its course.

The Australian Bureau of Statistics said payroll jobs grew by 0.2 per cent in the month to May, recovering after the impact of the Easter holiday in April.

The OECD has warned of further upside risks to inflation in Australia and the possibility of more aggressive interest rate rises by the Reserve Bank.

Good morning, early birds. China is about to open its first offshore naval facility in the Indo-Pacific in a move Prime Minister Anthony Albanese has called ‘concerning’, and the Federal Court has ordered Twitter to hand over information about an account known as PRGuy17. It’s the news you need to…

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Treasurer Jim Chalmers says he is not worried about the Australian economy going into recession, but he acknowledges inflation poses a major challenge.