The Latest Breaking News from the Reserve Bank

Fair Work Commission lifts minimum wage to $24.10 an hour from July, with the rise outpacing the government’s forecast inflation rate

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 ASX200 closed marginally higher across most sectors as a medical tech company recorded eight per cent growth in one day.

Not nearly enough houses are being built to meet growing demand but the federal government is still confident it can meet its 1.2 million homes target.

With hopes for a rate cut gone, there is speculation of another rise before the end of 2024. What factors will sway the Reserve Bank’s decision?

The March-quarter figure makes a cut less likely. Still, the Reserve Bank will probably give more weight to how quickly it can get to its target range

RBI directs Kotak Mahindra Bank to stop new customer onboarding and credit card issuance due to IT compliance issues.

Businesses, transport, government services reject old notes despite the unavailability of new bills until end of month.

Reserve Bank and Treasury had predicted unemployment rate would rise from February’s 3.7% as interest rates bite