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The Latest Breaking News from Reserve Bank

The only way is up for NZ cash rate

Mortgage holders in New Zealand are bracing themselves for another cash-rate hit from the Reserve Bank.

AAP

Market response to Australia’s new Labor government will be ‘muted’, economists say

Analysts say election of Albanese government will not ‘shift the dial’ on economic forecasts

The Guardian - AU

Mortgage defaults and job losses – Reserve Bank reveals NZ's inflation fears

Many NZers expect pay rises in coming months, but they are increasingly concern about the harsh impact of the cost of living crisis on their own families' lives, according to the Reserve Bank.

Newsroom.co.nz

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First home buyer help for hundreds more – just move to Hamilton or Queenstown

The Government’s Budget 2022 announcement around its First Home Loan and Grant schemes is a step in the right direction to help new buyers get a mortgage. Huge hurdles remain

Newsroom.co.nz

Provide option of cardless cash withdrawal at ATMs: RBI to banks

MUMBAI: The Reserve Bank on Thursday asked banks to provide the option of Interoperable Card-less Cash Withdrawal (ICCW) at their ATMs, a move aimed at curbing frauds like skimming, card cloning and device tampering.

The Times of India

At 3.9%, Australia's unemployment rate now officially begins with '3'. What's next?

Early in the election campaign, on April 14, we learned that Australia’s unemployment rate had slipped below 4% in March, to 3.95% – the lowest rate in 48 years.

The Conversation

Proof positive. Real wages are shrinking, Wednesday's figures put it beyond doubt

Every three months the Bureau of Statistics releases the lesser-known cousin of the consumer price index. It’s called the Wage Price Index (WPI) and it records changes in the overall level of wages, in the same way the price index records changes in the overall level of consumer prices.

The Conversation

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Will a 5 per cent pay rise for workers lift the cost of your coffee and petrol by the same amount?

Boosting workers' wages by 5 per cent – for all workers, not just those on the minimum wage — would lead to an increase in prices across the economy of about 2 per cent, according to a new report.

ABC News

Reserve Bank minutes show a bigger interest rate rise was considered in May, still possible in June

Borrowers may only have narrowly escaped a bigger interest rate rise this month and should brace for the chance of a super-sized move in June, the Reserve Bank's latest minutes reveal.

ABC News

Michael Pascoe: Everyone is wrong about a 5.1 per cent minimum wage rise

The government knows how miserable the real-world outcome is for people on low wages suffering excruciating effective marginal tax rates.

The New Daily

Dallas Fed appoints first female president to succeed Rob Kaplan

Federal Reserve Bank of New York executive Lorie Logan will become the 13th president of the Dallas Fed and its first female chief following a seven-month search.

Tribune News Service

Clive Palmer's United Australia Party is promising to cap mortgage interest rates. Can it be done?

With the cost of living surging and interest rates rising for the first time in more than a decade, a cap on mortgage repayments would come as welcome relief for millions of borrowers. But can it be done and who would end up paying for it?

ABC News

Markets turmoil and interest rate rises: the economic challenges facing Australia after the election

Soaring energy costs, stagflation fears and calls for higher wages are just some of the bumps in the road awaiting a new or returned government

The Guardian - AU

Scott Morrison says Anthony Albanese's 5.1 per cent pay rise intervention would send interest rates spiralling

The Prime Minister says Anthony Albanese's push for wages to keep pace with inflation is "reckless", but Labor says the alternative is for people's pay to go backwards.

ABC News

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ABC News

Gold Coast, Sunshine Coast property prices cool but CoreLogic's Tim Lawless says not to worry

The most expensive real estate market in regional Australia is officially cooling, but that doesn't mean it's any more affordable.

The Conversation

Stand by for the oddly designed Stage 3 tax cut that will send middle earners backwards and give high earners thousands

The Reserve Bank is pushing up interest rates to take money out of our hands.

Newsroom.co.nz

How inflation gives you a hidden tax hike – and Govt pockets the proceeds

A suspicious person might worry the Government would not be too vigilant about the Reserve Bank reining in inflation, if it's earning lots of tax dollars. But there's a saner way to set tax.

ABC News

With high prices and soaring rents, what are political parties promising to do about housing?

In an election campaign largely centred around the cost of living, the spiralling cost of the single-biggest expense for most households — housing — is a key focus for policy. Here's what's being promised.

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ABC News

Adelaide property prices push through ceiling, but house hunters optimistic after rate rise

On the first Saturday of house hunting since the RBA raised interest rates, prospective buyers in SA are keeping their fingers crossed for relief in the coming months, with the median Adelaide house price hitting $650,000 in the March quarter.

The Guardian - AU

‘I am who I am’: Anthony Albanese rushes towards his date with destiny

Can the Labor leader persuade Australians that his passion and emotional investment are the qualities they need in a PM?

The Times of India

'RBI wants smooth policy measures; prefers smaller rate hikes'

MUMBAI: Battling a sharp surge in inflation, the Reserve Bank is all for a smooth monetary policy response and the desire to have smaller hikes led it to tighten the policy in an off-schedule meet, a source said on Thursday.

The Times of India

ICICI, Bank of Baroda revise lending rates after RBI's repo rate hike

NEW DELHI: ICICI Bank has revised the external benchmark lending rate (EBLR) to 8.10 per cent, and Bank of Baroda raised the rate to 6.90 per cent after the RBI hiked the key repo rate.

The Conversation

Australia is investigating a digital currency, or e-dollar, but its benefits seem slight and the risks to privacy large

We are used to thinking of money as notes and coins, the kind most of us hold in our wallets. But most money – in Australia it’s 96.3% – is digital, held by financial institutions and moved around via bank transfers, debit cards and credit cards.

Newsroom.co.nz

Troubled Firefighters' Credit Union sparks concern about small finance institutions

As the Reserve Bank expresses concern about the scale and profitability of small finance businesses, firefighters will vote today on the future of their credit union.

The Conversation

The Coalition is guaranteeing essential services and lower tax. We can't have both

In the midst of Labor’s campaign about the cost of living, the Coalition has zeroed in on one of those costs – taxes – and guaranteed to stop them rising. Its Lower Tax Guarantee promises:

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