The Latest Breaking News from Reserve Bank

We're in a per capita recession as Chalmers says GDP 'steady in the face of pressure'

Australia’s economy grew a mere 0.4% in the June quarter according to figures released by the Bureau of Statistics on Wednesday, a performance Treasurer Jim Chalmers describes as “steady in the face of unrelenting pressure”.

The Conversation · Sep 6, 2023

What's to stop Philip Lowe moving to a private bank after he leaves the RBA? It's what his predecessors did

Surely Reserve Bank Governor Philip Lowe won’t move to a private bank after his term as governor ends next week.

The Conversation · Sep 5, 2023

Record number of Australians at risk of mortgage stress as RBA interest rate rises bite

Roy Morgan research shows 1.5 million people – almost a third of all mortgage holders – are spending 25 to 45% of their income on their home loan

The Guardian - AU · Aug 28, 2023

RBA says slowing economy and acute pressure on household budgets behind interest rate pause

Minutes from the Reserve Bank’s August meeting show the board considered lifting the cash rate to 4.35% but decided to allow more time to look at economic data

The Guardian - AU · Aug 15, 2023

Australia’s wage growth slightly weaker than expected in June quarter

The wage price index figures show that despite a tight labour market, there has not been a breakout in wage growth

The Guardian - AU · Aug 15, 2023

We can and should keep unemployment below 4%, says our survey of top economists

Australia’s leading economists believe Australia can sustain an unemployment rate as low as 3.75% – much lower than the latest Reserve Bank estimate of 4.25% and the Treasury’s latest estimate of 4.5%.

The Conversation · Aug 13, 2023

Home loan, other borrowers can switch to fixed-rate regime: RBI

RBI unveils framework allowing borrowers to switch to fixed interest rate from floating rate, providing relief to home, auto loan borrowers. Revised framework for Infrastructure Debt Funds (IDFs) to enable greater financing of infrastructure sector.

The Hindu · Aug 10, 2023

RBA predicts weaker economy for the rest of 2023 as cost of living pummels households

The Reserve Bank’s latest update predicts wage growth to remain steady but rent inflation will increase

The Guardian - AU · Aug 4, 2023

RBI says 88% of ₹2,000 notes returned to banks

As much as 88% of the ₹2,000 banknotes in circulation as on May 19, 2023, have since been returned.

The Hindu · Aug 1, 2023

Australia is about to set its first full employment target – and it will define people's lives for decades

Stand by for one of the most important decisions Treasurer Jim Chalmers and the Albanese government will make.

The Conversation · Aug 1, 2023