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The Latest Breaking News from Reserve Bank

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

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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

RBI exploring options to ensure customer safety dealing with PPIs issued by non-bank entities

NEW DELHI: The Reserve Bank is considering various options to ensure that customers are not put at risk on account of activities of non-bank fintech players with regard to prepaid payment instruments (PPIs), sources said.

The Times of India

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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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.

ABC News

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.

AAP

RBI stops non-bank PPI issuers from loading wallets, cards via credit lines

MUMBAI: The Reserve Bank has asked non-bank prepaid payment instrument (PPI) issuers not to load their wallets and cards from credit lines or preset borrowing limits.

The Times of India

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.

The New Daily

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.

ABC News

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.

The New Daily

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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.

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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.

ABC News

Market sell-off a 'real downturn' and risk of global recession close to 50-50, analyst warns

The Australian share market has dropped by more than 15 per cent from its record high, sliding closer towards a bear market. Some investors may be tempted to "buy the dip", but analysts say there is "further downside" ahead.

ABC News

Giving up insurance, choosing meat-free meals and skipping breakfast: What Australians are doing to survive the cost-of-living crisis

The multi-pronged cost of living crisis has spared few Australians from increased financial stress. In response, cash-strapped households have been forced to find new ways to cut back spending.

AAP

RBA's Lowe to expand on outlook views

Reserve Bank governor Philip Lowe will address a conference on Tuesday on Australia's economic outlook and monetary policy.

The Times of India

RBI raises limit of e-mandates for transactions up to Rs 15,000

MUMBAI: The Reserve Bank on Thursday raised the Additional Factor of Authentication (AFA) limit from Rs 5,000 to Rs 15,000 per transaction for e-mandates on cards, Prepaid Payment Instruments (PPIs) and UPI for recurring transactions.

The Times of India

RBI lifts restrictions on Mastercard; allows it to onboard new customers in India

NEW DELHI: The Reserve Bank of India (RBI) on Thursday lifted restrictions on Mastercard Asia and allowed it to add new customers to its network.

ABC News

The ASX opened strong after the US interest rate rise buoyed Wall Street. But it hasn't cancelled out Tuesday's losses

It's been a dramatic few days on the Australian stock market, with steep losses followed by a brief rise on Thursday morning. But there are still more twists and turns to come.

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