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The Latest Breaking News from Reserve Bank

Reserve Bank raises interest rates again in most aggressive increases since 1994

The Reserve Bank raises interest rates for the fifth month in a row, causing the sharpest increase in borrowing costs for nearly three decades.

ABC News

Interest rate updates: RBA increases cash rate for fifth month in a row — as it happened

The Reserve Bank lifts interest rates for the fifth month in a row, taking the cash rate to 2.35 per cent, a seven-year high. Look back on Tuesday's developments.

ABC News

CBA warns of mortgage lags as Reserve Bank set for another super size interest rate rise

The Commonwealth Bank is warning of the risk a three-month mortgage lag poses to the economy if the Reserve Bank keeps raising interest rates aggressively.

ABC News

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Climbing interest rates yet to bite most Australian mortgage holders, economists say

As the RBA meets to consider the cash rate, analysts warn the impact of previous rises is yet to be felt fully

The Guardian - AU

Banking system healthy enough to withstand external headwinds: Shaktikanta Das

MUMBAI: The banking system is healthy enough to withstand any negative spillovers from external headwinds emanating from the Jackson Hole speech by the US Fed, Reserve Bank governor Shaktikanta Das said on Monday.

The Times of India

ASX rises despite Wall St's Friday fall, traders eye tomorrow's RBA interest rate decision

Australian shares edged up in choppy trade, with a rise in energy and gold stocks offsetting losses from the banking and tech indexes, while investors awaited a central bank rate decision to combat pressures from soaring inflation.

ABC News

Are cooperatives and mutuals one answer to Australia's weak wages growth?

There is one sector of the finance industry where workers have maintained an above-average share of earnings, even as wages have plunged relative to profits elsewhere.

ABC News

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Former Reserve Bank economist suggests Greens push for interest rate freeze is nonsensical

Greens senator Nick McKim says homeowners took on massive debt believing rates wouldn’t rise before 2024 and are now getting ‘smashed’

The Guardian - AU

Mortgage holders brace for rates decision

All eyes will be on the Reserve Bank of Australia's official cash rate announcement on Tuesday as new data sheds light on the state of the economy.

AAP

Australians abandon buying first home as loan costs outweigh property price drops

Reserve Bank is expected to again lift the cash rate, extending the most rapid spate of rises since 1994

The Guardian - AU

RBA’s search for inflation sweet spot tipped to raise interest rates to 2.35 per cent

Households are staring down yet another mortgage bill hike next week, with the Reserve Bank set to pass through its fifth interest rate hike in a row.

The New Daily

India Inc's foreign investment declines over 50% to $1.11 billion in July

NEW DELHI: India Inc's foreign direct investment in July declined over 50 per cent to $1.11 billion in July 2022, the Reserve Bank data showed.

The Times of India

Treasurer Chalmers on boosting migration and a 'resilience' budget

For Treasurer Jim Chalmers, this week’s jobs and skills summit is the prelude to what will be his main game, the October budget.

The Conversation

RBI mulls setting up of fraud registry to check banking frauds

NEW DELHI: As part of its efforts to strengthen customer protection, Reserve Bank is considering setting up a fraud registry to create a database of fraudulent websites, phones and various modus operandi used for digital fraud.

The Times of India

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The New Daily

Alan Kohler: Business is on a hiding to nothing at the jobs summit

Australia’s businesses and their leaders will show up at this week’s Jobs and Skills Summit with one thing in mind – give us more workers.

ABC News

Auckland house prices down 15 per cent with the Reserve Bank of NZ now tipping prices across the country to follow

Auckland's real estate market sets the pace for the rest of New Zealand — right now, house prices are down 15 per cent from their 2021 peak and forecast to fall further. So what does that mean for families who just bought in?

Newsroom.co.nz

The Week in Detail: In and around the Reserve Bank, Ukraine, and the Pacific Ocean

The Detail podcast brings you the issues behind the news every weekday. Here's what we covered this week.

The Conversation

The government taking full ownership of Kiwibank is a bailout in all but name – what are the risks now?

With the transfer this week of Kiwibank’s assets to a state-owned company, the New Zealand crown has now taken full control of the bank. At an estimated cost of NZ$2.1 billion, the change of ownership has all the hallmarks of a government bailout.

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The Hindu

RBI imposes restrictions on Thodupuzha Urban Co-operative Bank, Kerala

The restrictions will remain in force for six months from the close of business on August 23, 2022.

Newsroom.co.nz

The Reserve Bank and the war on inflation

Why is the Reserve Bank facing flak from every angle over its economic handling of the pandemic?

ABC News

Mortgage borrowers and renters told to brace for big financial hit by December

The full budget impact of the second most aggressive interest rate hiking cycle in the Reserve Bank's history is still months from being felt by millions of households.

The Conversation

Australia's inflation rate is about to go monthly. Be careful what you wish for

Australia’s consumer price index is about to go monthly, meaning Australia will join most of the developed world in getting an update on inflation at the end of every month, instead of once every three months as at present.

Newsroom.co.nz

Why does our inflation response punish low-income workers?

As the Reserve Bank considers another rate increase today, a more equitable approach would seek to shift the costs of dealing with inflation on to the least vulnerable, argues Edward Miller

The Conversation

Why unemployment is set to stay below 5% for years to come

Unfathomably, Australia’s unemployment rate has sunk to 3.5%. Even harder to believe is that it will soon sink lower – perhaps even this week, when the update is released on Thursday – and after that, if the ANZ’s forecasts are correct, dip below the next threshold to two-point-something for the…

The New Daily

‘It’s important not to over-react’: Australia’s top economists on how to fix high inflation

Australia’s top economists are divided about how to tackle ballooning inflation that’s forecast to climb to a three-decade high by the end of the year.

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