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The Latest Breaking News from Reserve Bank

The Reserve Bank of Australia board lifted the official cash rate to 1.35 per cent, adding to cost pressures on households.

AAP

‘Serious financial stress’: Typical mortgage bills tipped to jump $792 by year’s end

Home owners are being warned to brace for their third interest rate hike in as many months on Tuesday as the Reserve Bank fights surging inflation.

The New Daily

Can we avoid a recession? What we can learn from the Kiwis

New Zealand property prices have fallen every month this year following a series of punishing interest rate hikes that began last October. So far, the hikes have yet to dent inflation.

ABC News

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ASX jumps ahead of RBA meeting, new survey shows split public opinion on rate hike

Australian shares rise sharply after falling for three consecutive sessions as investors await for another potential interest rate hike by the Reserve Bank on Tuesday.

ABC News

Don't get complacent - the COVID crisis isn't going anyway

We need to step our defence against the virus, once again

Newcastle Herald

Sky-high mortgages, high inflation, possible recession. How The Conversation’s panel sees the year ahead

Now in its fourth year, The Conversation’s survey draws on the expertise of leading forecasters to predict what lies ahead for the Australian economy.

The New Daily

Home prices drop for the second month in a row as Reserve Bank's aggressive interest rate rises hit hard

Aggressive interest rate increases have caused the second monthly fall in home prices across Australia's capital cities. It is the sharpest slowdown in the property market in 30 years.

ABC News

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The Loop: A COVID vaccine review, Commonwealth Bank hikes fixed rates, and man gets too close to bison

Here's what you need to get caught up on today's news.

ABC News

Sky-high mortgages, 7.1% inflation, and a 20% chance of recession. How the Conversation's panel sees the year ahead

Homeowners will face mortgage rates near 5.5% in a little over a year, according to a survey of 22 leading Australian economists.

The Conversation

Commonwealth Bank, ANZ, Westpac, NAB to raise variable mortgage rates by 0.25 per cent after RBA rate hike

All of Australia's biggest banks have lifted mortgage rates, matching the Reserve Bank's 25-basis-point increase.

ABC News

Sentiment lifts from the depths of despair

Consumer confidence has improved for a second consecutive week after a slump earlier in the month as a result of a large rise in interest rates.

AAP

Future make-up of RBA board a 'key consideration' going forward, says Federal Treasurer

Federal Treasurer Jim Chalmers throws his support behind calls for the Reserve Bank board to be more representative of the broader Australian community, following scathing criticism that it is out of touch with workers demanding wage increases.

ABC News

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

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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ABC News

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.

AAP

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.

The New Daily

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.

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ABC News

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.

The New Daily

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.

ABC News

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.

AAP

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.

ABC News

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".

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.

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