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The Latest Breaking News from the Reserve Bank

The RBA has kept interest rates on hold. Here's why it'll be cautious from here on

The Reserve Bank decided to keep interest rates on hold at 4.1% because it thinks there’s a chance – just a chance – it has lifted them all it needs to.

The Conversation

Reserve Bank hits pause on interest rates

Borrowers will welcome a break from interest rate hikes as Australia's central bank opts to keep interest rates steady at 4.1 per cent.

AAP

Minister suggests rate pause based on uncertain outlook – as it happened

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The Guardian - AU

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Two more RBA rate hikes, tumbling inflation, and a high chance of recession: how our forecasting panel sees 2023-24

Of the 27 leading economists assembled by The Conversation to forecast the financial year that’s just begun, every one expects inflation to continue to fall.

The Conversation

Borrowers cross fingers ahead of live cash rate call

The Reserve Bank board is set to meet on Tuesday for what is likely to be another finely balanced interest rate decision in the fight against inflation.

AAP

Finance Minister removes house prices from Reserve Bank remit

Newsroom is an independent, New Zealand-based news and current affairs site.

Newsroom.co.nz

This year's surplus will be bigger than the $4.2 billion projected at budget time: Chalmers

The surplus for the financial year that ends Friday will be larger than the $4.2 billion forecast in the budget, Treasurer Jim Chalmers will say on Wednesday.

The Conversation

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Easing demand hitting manufacturing sector hard

The outlook for the Australian economy remains gloomy, with the manufacturing sector under pressure from slowing demand and stubbornly high costs.

AAP

Wages v profits: workers can catch up with inflation, says top central bank

The RBA looks increasingly lonely in rejecting the importance of profits in driving inflation. Now its own central bank is talking about the problem.

Crikey

Barr predicts ACT will avoid recession as rate hikes hit land sales

Land sales slow as higher borrowing costs bite, Chief Minister says.

The Canberra Times

Protesters' clamour over coal is making things worse in climate fight

What they achieve is to irritate the general population

Newcastle Herald

Alan Kohler: Time to revisit the Allan Fels system of price control – naming and shaming

It’s time to revisit the Fels system of price control.That is – put some resources into price surveillance, and name and shame the gougers.

The New Daily

Michael Pascoe: Speech shows RBA clueless on employment

You can rely on the Reserve Bank to miss or downplay a major factor or two when it strays into what’s actually happening in Australia.

The New Daily

Cash could be almost gone in Australia in a decade – but like cheques, who'll miss it?

Late last year, the Reserve Bank gave 1,000 Australians diaries and asked them to record every payment they made over the course of a week. Of the 13,000 payments, only 17 were with cheques.

The Conversation

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Newsroom.co.nz

The mystery of NZ's weekday-only digital banking system

The world has had phone banking for almost 40 years; internet banking has been ubiquitous for 20 years. Computers don’t operate solely Monday to Friday. So why on earth is it only in the past couple of weeks that NZ’s payments system has geared up to work weekends?

The New Daily

‘Mortgage stress’: New home owners squeezed hardest as repayments skyrocket

Many new homeowners could see half their incomes consumed by mortgage repayments in coming months as the RBA hikes rates.

The Guardian - AU

NSW must help Reserve Bank ‘slay the inflation dragon’, state treasurer says

Daniel Mookhey to give major speech to parliament outlining the state’s finances as budget delayed until September

Newsroom.co.nz

The recession you have when you’re not having a recession

While economists are expecting further contraction of the NZ economy this year, opinions vary as to how bad things could get.

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The New Daily

More rate pain ahead? This week will provide some clues

The Reserve Bank's next move on interest rates remains shrouded in uncertainty but two senior officials may provide some clues.

The Guardian - AU

Australia’s unemployment falls to 3.6% as the economy adds 76,000 jobs in May

Employers expand workforces even as growth slows, surprising economists

The Guardian - AU

Afternoon Update: Liberals break ranks over Higgins inquiry; Australian dead in Canadian wilderness; and a sullen Trump fronts court

Andrew Bragg labels debate in Senate as ‘very ugly’

The Guardian - AU

Australia’s supermarket duopoly didn’t start the inflation crisis, but it is making it worse

Market concentration is allowing companies to reap record profits while workers and their families struggle to get by

The New Daily

Wealth rises with $140 billion property price surge in early 2023

Australia’s housing market has surged by $140 billion in early-2023 amid an extraordinary rebound in property prices.

The Guardian - AU

Australia’s productivity plunge: why is the Reserve Bank concerned and should we panic?

Philip Lowe cited ‘subdued’ productivity growth when the RBA lifted rates for a 12th time to try to tame inflation. Here’s why it matters

The Conversation

Grattan on Friday: Labor caught in pincer movement of fighting inflation and delivering to its constituency

During the election campaign Anthony Albanese repeated, endlessly, that everything was going up except people’s wages.

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