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The Latest Breaking News from Reserve Bank

7 graphs that show economic growth near zero as Australia waits for a budget boost

The Australian economy came close to a standstill in the first three months of this year. March-quarter economic growth sank to just 0.1%, meaning that, when adjusted for inflation, there was hardly any more income, spending or production than the quarter before.

The Conversation

Reserve Bank keeps options open on interest rates

Interest rates could go higher again if inflation proves stickier than expected or moves higher, the head of the Reserve Bank of Australia says.

AAP

RBI's balance sheet rises 11 pc to Rs 70.47 lakh cr in FY24

The size of Reserve Bank's balance sheet increased by 11.08 per cent to Rs 70.47 lakh crore as on March 2024, leading to the highest-ever dividend payout to the government. Read further on Dynamite News:

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Top economists give budget modest rating and doubt inflation will fall as planned

Asked to grade Treasurer Jim Chalmers’ third budget on his own criteria of delivering on “inflation in the near term and then growth in the medium term”, most of the 49 leading economists surveyed by the Economic Society of Australia and The Conversation have failed to give it top marks.

The Conversation

Consumer spending the wildcard in rate hike uncertainty

The spending appetite of consumers remains a key source of uncertainty for the Reserve Bank as the battle against inflation rages.

AAP

Guardian Essential poll: $300 energy rebate shouldn’t go to high-income households, voters say

Poll finds lukewarm response to Labor’s 2024 budget, with only 27% of people thinking it will make a ‘meaningful difference’ to the cost of living

The Guardian - AU

Rationale behind RBA's last cash rate call on show

The minutes from the last Reserve Bank meeting will outline the thinking behind keeping rates on hold and how seriously the case to hike was considered.

AAP

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At the heart of the budget is the sad truth the economy is weak. That’s one reason inflation will fall

A central focus of this week’s budget is the treasury’s forecast for inflation.

The Conversation

Government defends faster inflation fall than RBA

Inflation will be back within the Reserve Bank's target range a year earlier than the bank has predicted, based on government budget figures.

AAP

RBA interest rate hold prompts stock upswing

The ASX200 finished up across the board after the Reserve Bank elected to hold fire on raising interest rates despite fears of lingering inflation.

AAP

Reserve Bank's shift to neutral likely to be reinforced

The central bank will be in the spotlight this week, when high ranking officials give policy speeches and the minutes of the last rates meeting are released.

AAP

We're cashing out. The consequences are real for us all

Australia is cashing out. And the consequences are real.

Newcastle Herald

RBA’s Michele Bullock sticks to narrow path as she plots course to a soft landing

The central bank’s governor warned Australians will get sick of her repeating that she won’t rule anything in or out as she tries to tame inflation

The Guardian - AU

Morning Mail: Push to outlaw mega donations, Trump’s money woes, social media giants put on notice

Independents want to outlaw large gifts of more than $1.5m; eSafety commissioner issues notices about terror material

The Guardian - AU

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AAP

Rates on hold but RBA 'not ruling anything in or out'

Interest rates have been left steady for another meeting and the Reserve Bank has kept its options wide open when it comes to future moves.

The Guardian - AU

Reserve Bank tipped to hold interest rate but economists split on when cuts will start

Pundits and investors expect the RBA to leave its cash rate unchanged at 4.35% when the board meets on Tuesday

AAP

Cash rate likely on hold in 'straightforward' call

No change in interest rates is expected when the Reserve Bank meets this week and the case to hike further will likely be discussed despite a weak economy.

AAP

Test for consumer sector as optimism creeps back in

The state of the consumer and business sectors will be on display this week, with a speech from a Reserve Bank of Australia official also of interest.

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The Guardian - AU

Greens-Coalition alliance may force Chalmers to keep power to overrule RBA on rates

Chalmers had announced plans to scrap the veto power but former treasurers and RBA governors say it is a vital ‘safety valve’

AAP

Pulse to be taken on inflation, retail and home prices

A key monthly inflation indicator is expected to inch a little higher but such a result is unlikely to worry the Reserve Bank as it ponders interest rates.

The Guardian - AU

Former governors and treasurers advise against removing government’s power to overrule RBA

Critics of treasurer Jim Chalmers’ proposed reforms say the Reserve Bank is independent enough

AAP

Former governors want power to overrule RBA to stay

Resistance is building to the federal government's plan to scrap a never used power to intervene in Reserve Bank decision making.

Top News

New Zealand central bank blames inflation for restrictive policy

The New Zealand central bank cites inflation as the primary factor influencing its decision to implement restrictive monetary policy, aiming to maintain fi...

The Guardian - AU

Qantas decision to reduce flight capacity may have led to RBA rate hike, inquiry finds

The ACTU inquiry into price gouging chaired by Allan Fels strongly criticised the lack of competition in Australia’s domestic aviation industry

AAP

Aust shares slip again following Reserve Bank meeting

The local share market finished down 0.6 per cent after RBA governor Michele Bullock indicated the central bank wouldn't act quickly to cut rates.

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