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The Latest Breaking News from Reserve Bank

Inflation isn't the 6.1% they say it is – for many of us, it is much lower

We learnt last week inflation is officially 6.1% – way above the average over the past 20 years of 2.5%. This is right in the middle of the Reserve Bank’s 2-3% target band.

The Conversation

Big wage rises: 'It's our turn now'

With the cost of living soaring and huge demand for labour, low-paid workers are resetting their expectations after years of stagnant wages, Rebecca Macfie reports.

Newsroom.co.nz

Borrowers to feel the heat as RBA raises rates again, but new customers get cheaper deals

As the economic outlook became more uncertain, lenders are competing harder for new customers, providing a good opportunity for home buyers with large deposits and owners who have paid off a sizeable portion of their property.

ABC News

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The Reserve Bank has to navigate a path away from inflation but the economic signals are months old

While backward-looking labour market data is still robust, property prices provide a taste of the deteriorating outlook

The Guardian - AU

Mortgage bills to jump $140 in August as inflation worsens

Home owners will be slapped with another painful mortgage squeeze in August after the Reserve Bank hiked interest rates to a six-year high on Tuesday.

The New Daily

'Bit daunting': Newcastle homeowners hit with another 0.5% rate rise

The cash rate has risen to 1.85 per cent from just 0.1 per cent in May.

Newcastle Herald

Why does the RBA keep hiking interest rates? It's scared it can't contain inflation

There are signs inflation pressures are easing. Oil prices are down almost 20% on their peak in March. They’ve been falling consistently for a month.

The Conversation

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Families to feel ‘sting’ of RBA rate hike: Chalmers

Treasurer Jim Chalmers says today is “another difficult day for Australian home owners” after the RBA lifted official interest rates to a six-year high.

The New Daily

Reserve Bank hikes official interest rates to six-year high

The Reserve Bank has lifted the cash rate by another half a percentage point as it seeks to rein in rising inflation. It's the fourth rate hike since May.

The New Daily

Reserve Bank raises interest rates for fourth-straight month

The Reserve Bank increases interest rates for the fourth month in a row, raising its cash rate target by half a percentage point.

ABC News

Interest rate updates: RBA increases cash rate for fourth consecutive month to curb rising inflation — as it happened

The Reserve Bank has raised the cash rate for the fourth time in as many months to curb inflation. Look back at how our experts unpacked what this means for you in our blog.

ABC News

ASX recovers, Australian dollar sinks as RBA lifts cash rate to six-year high

Australian shares have staged a solid recovery in the final trading hour, after the Reserve Bank lifted its cash rate target by 0.5 percentage points, in a widely-expected decision.

ABC News

Call for 'emergency action' on childcare staff shortages, 'significant Al Qaeda target' hit and RBA to raise rates again — as it happened

Here's your quick catch-up for this morning's news.

ABC News

Barr has eyes on inflation ahead of 11th ACT budget

Mr Barr said he was optimistic about the ACT's labour market and the territory's overall capacity to weather tough global economic conditions.

The Canberra Times

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ABC News

Interest rate rises will see property prices fall further as maximum home loan sizes shrink

The Reserve Bank is expected to raise the cash rate again today. It comes as banks pass on interest rate rises and cut back how much they'll loan to wannabe home owners.

AAP

Likely rate rise will be difficult: PM

The Reserve Bank board is expected to lift the cash rate for the fourth month in a row when it meets on Tuesday, with economists tipping a 50 basis point rise.

The Guardian - AU

Australian property prices tumble at rates not seen since GFC

Interest rate rises lead to dwelling values falling for third month in a row with Sydney prices down 5.2% since January

The Conversation

The Chalmers graphs: 7.75% inflation, plunging real wages, weak growth

As he had promised to do almost since the day he became treasurer, Jim Chalmers has presented a gloomy set of forecasts for the Australian economy in his first formal economic statement to the new parliament on Thursday.

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ABC News

APRA warned Albanese government about 'heightened' housing risks as interest rates rise

The banking regulator warned the incoming Albanese government that it would face "heightened" risks in the housing market as interest rates rise, documents released under freedom of information show.

The Conversation

Chalmers' challenge: why the treasurer's words on the economy carry so much weight

When Bill Clinton’s campaign manager, James Carville, scrawled, “the economy, stupid” on a sign in 1992, he merely wanted the campaign volunteers to stick to their presidential candidate’s talking points.

The New Daily

Alan Kohler: The Reserve Bank is a renovator’s delight

The most controversial task of the panel reviewing the Reserve Bank will be to decide whether Governor Philip Lowe committed a sackable offence.

The Guardian - AU

The RBA is increasing interest rates to counter inflation – but it will also slow wages growth

Combined with major price increases on essential items, the RBA’s policies will deliver a brutal whack to lower-income households

The Times of India

Banks, financial institutions can look at having paperless branches: RBI discussion paper

MUMBAI: The Reserve Bank on Wednesday suggested that banks and other financial institutions could consider eliminating the use of paper at their branches as well as introduce e-receipts at ATMs.

The Conversation

Inflation hasn't been higher for 32 years. What now?

Inflation jumped from 5.1% to a new long-term high of 6.1% in the June quarter, a rate matched only by short-lived jump caused by the introduction of the goods and services tax, and not exceeded since 1990.

The New Daily

Inflation hits 21-year high of 6.1 per cent

Inflation 55.5 per cent over the June quarter as higher petrol and grocery bills continue to squeeze households, new official data reveals.

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