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The Latest Breaking News from the Reserve Bank

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

The Guardian - AU

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.

Newsroom.co.nz

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 New Daily

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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 Guardian - AU

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 New Daily

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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 Guardian - AU

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.

The Conversation

RBI holds rates, vows to keep price stability

The Reserve Bank on June 8 decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50% and retained the GDP growth projection for current fiscal year at 6.5%, on the back of supportive domestic demand conditions.

The Hindu

As migrants, we were sold a home and an Australian dream of financial security. Now we feel cheated

The Reserve Bank lifts interest rates each month and Philip Lowe tells our family to slash spending. But what’s left to cut

The Guardian - AU

The cost of the Reserve Bank’s profit denialism will be counted in lives

The RBA insists there’s no link between rising profits and inflation. Why do other central banks and the OECD disagree?

Crikey

$15,000 more a year: Australia’s homeowners brace as interest rate hikes bring ‘mortgage cliff’ closer

Rate rises mean that households with an average $576,985 mortgage will have to find an extra $1250 a month

The Guardian - AU

The economy is slowing yet the RBA seems desperate to ensure this is as good as it gets for a long time

Record interest rate rises are intended to stop households from spending, even though the economy is already in a precarious position

The Guardian - AU

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The Conversation

Going down: the 6 graphs that show Australia's economic growth shrinking

The latest national accounts tell us Australia’s economy grew by just 0.2% in the three months to March.

The New Daily

Labor rejects claim wage rise to blame for rates hike

Ahead of the latest news on Australia's economic performance, the federal government says it's determined to provide as much cost-of-living relief as it can.

The New Daily

Michael Pascoe: Is the RBA acting out of spite or just lost the plot?

Passing without notice in April, the Reserve Bank pulled a neat little trick, apparently making multiple billions of dollars in losses “disappear”. I’ve

The Guardian - AU

Political point scoring over latest RBA rate rise won’t help those feeling the ‘painful squeeze’

How high must rates go to choke inflation? Blaming Labor’s budget, price-gouging businesses or the national wage increase isn’t an answer

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The New Daily

‘Difficult to understand’: Mortgage bills to rise again as RBA hikes interest rates in June

Australian households will be forced to endure a 12th hike in interest rates after the Reserve Bank moved to push up mortgage bills in June.

ABC News

Official interest rates rise above 4 per cent as RBA hikes again

Interest rates climb above 4 per cent for the first time in more than 11 years, as the Reserve Bank moves aggressively to clamp down on inflation.

Crikey

A very Philip Lowe guide to making a not-inevitable recession inevitable

The Reserve Bank governor is making sense of a confused economy by stifling the emergence of a new one.

The New Daily

No signs of recovery among despondent consumers

Consumer confidence has not budged from its weak position, although mortgage holders have regained some optimism ahead of the next cash rate decision.

The New Daily

White-knuckle wait for Tuesday’s latest RBA interest rate decision

Another close interest rate call is looming for the Reserve Bank amid persistent inflation and stagnant productivity growth

The Canberra Times

Mortgage affordability in ACT at its worst since 1990

It hasn't been this tough since 1990. The cash rate was 17 per cent at the time.

The New Daily

Minimum wage hike reveals gender inequality

Female workers will be the most most affected by the upcoming minimum wage hike, as the FWC committed to focusing more on gender equality.

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