The Latest Breaking News from Reserve Bank

Stalling progress on inflation has the central bank on high alert as political sparring continues over the impact of state and federal budgets on prices.

The ASX was up 1.01 per cent at the end of the day, with gains across the board as the Reserve Bank chose to hold off on changing interest rates.

A pick up in investor lending and housing-related loans more generally comes even as interest rates stay elevated and cuts remain in the distant future.

The RBA governor is reminding everyone that her mandate covers not just inflation, but also full employment

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.

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

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:

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