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The Latest Breaking News from Reserve Bank

Reserve Bank set for another double-sized interest rate rise as borrowers brace for pain

The average mortgage borrower will be paying $760 a month more than they were just five months ago, if the Reserve Bank hikes interest rates as expected today, with existing borrowers slugged harder than newer customers.

ABC News

Property prices dropped further in September and falls ‘could accelerate’ again with rate rise

Investors and banks predict RBA will raise cash rate further on Tuesday, while rent increases begin to slow around Australia

The Guardian - AU

Another rate rise locked and loaded

At least another 25 basis point interest rate rise is expected when the Reserve Bank meets again, while house prices are tipped to fall for another month.

AAP

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Explained: How RBI rate hike may impact your EMIs

NEW DELHI: The Reserve Bank of India's (RBI) decision to raise benchmark lending rates just ahead of the festive season may hit consumers' buying sentiments.

The Times of India

Monthly mortgage repayments could jump by $1000, as RBA weighs another rate hike

Homeowners with a mortgage of $500,000 could be facing monthly mortgage payment increases of just under $1000 by the end of the year

The New Daily

RBI hikes repo rate by 50 bps to 5.9%; pegs GDP growth at 7% for FY23

NEW DELHI: The Reserve Bank of India (RBI) on Friday raised benchmark lending rates for the 4th straight time in a row, in a bid to tame the soaring inflation.

The Times of India

Share of industrial loans in bank credit on decline, personal loans up: RBI

MUMBAI: The share of industrial loans in total credit has been gradually declining over the last decade while that of personal loans is on the rise, the Reserve Bank said on Wednesday.

The Times of India

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RBI's rate-setting panel to start 3-day meet on September 28, another rate hike likely

MUMBAI: The Reserve Bank's rate-setting panel will start its 3-day deliberations on Wednesday amid expectations of yet another rate hike of 50 basis points to check high inflation, in line with similar actions taken by other major central banks, including the US Fed.

The Times of India

An inflation primer: No painless escape route is apparent

Hard times make for bad thinking.

Newsroom.co.nz

Why the Reserve Bank's record loss of $37 billion was actually good for Australia

The Reserve Bank has just reported a loss of A$37 billion, the biggest in its history, and it says it will be unable to pay the government dividends for some time.

The Conversation

Workers did not cause Australia’s inflation woes. But they will be the ones who sacrifice the most

The Reserve Bank governor’s recipe for avoiding sustained inflation is for real wages to fall for three years in a row

The Guardian - AU

RBA deputy governor Michele Bullock says outlook for global economy is 'quite worrying'

RBA deputy governor Michelle Bullock warns of risks in the global economy, but says the RBA's ability to create money helped Australia's economy through the pandemic

ABC News

Reserve Bank of Australia reports loss of $37bn and plans to cut dividends to Treasury

Central bank in negative equity after 2021-22 loss, a review of its pandemic bond-buying program has found

The Guardian - AU

RBA dividend not expected for years

The central bank has defended its $281 billion bond-buying program but says it has had serious consequences for its balance sheet.

AAP

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The Times of India

RBI removes Central Bank of India from corrective action list

MUMBAI: The Reserve Bank on Tuesday said Central Bank of India has been removed from the Prompt Corrective Action Framework (PCAF) watchlist following improvement in various parameters and a written commitment that the state-owned lender will comply with the minimum capital norms.

The Times of India

RBI wants fintech operators to follow rules of game: Shaktikanta Das

MUMBAI: Warning against mushrooming of lending apps and their usurious recovery prices, the Reserve Bank said it is not interested in penalizing operators or stifling innovation but wants them to follow the rules of the game, governor Shaktikanta Das said on Tuesday.

The Conversation

The Mint and Note Printing Australia make billions for Australia – but it could be at risk

Briefly, in the days after the death of the queen, we were afforded a glimpse into the machine that makes Australia’s money.

ABC News

Liberal senator drafts cryptocurrency bill to regulate 'stablecoins' and China's digital yuan

The use of cryptocurrency is on the rise and its lack of regulation could threaten Australia's national security, according to Liberal senator Andrew Bragg, who has drafted a private member's bill pushing for tougher regulation.

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The Times of India

India Inc's overseas direct investment drops 59% at $1.03 billion in August: RBI data

MUMBAI: India Inc's investment in their overseas ventures dropped by 59 per cent on an annual basis to $1.03 billion in August this year, data from Reserve Bank showed on Friday.

The New Daily

Fewer discounts: Reserve Bank boss issues inflation warning on corporate profits

Philip Lowe wants businesses to start offering shoppers more discounts, saying corporate profits must fall to curb soaring inflation.

The Canberra Times

RBA urges fiscal reform

The Reserve Bank has urged the government to not use the national credit card to pay for services.

ABC News

More interest rate rises ahead but pace of increase set to slow, RBA governor says

Reserve Bank governor Philip Lowe says he will keep lifting interest rates but the pace will soon slow down and he is confident the economy can absorb the rises.

The Guardian - AU

Australia’s unemployment rate rises slightly from 3.4% to 3.5% as more people seek work

Labour market figure will be watched by economists as a guide to Reserve Bank’s decision on whether to further raise interest rates

The Guardian - AU

Yes, Australian house prices are dropping, but from staggering heights

It would take a bubble bursting to even get back to the level of housing affordability we saw in June 2020

AAP

Opposition warns against RBA distractions

The federal opposition wants to see the Reserve Bank of Australia stick to its strengths and remain focused on containing inflation.

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