The Latest Breaking News from the Reserve Bank

Cost-of-living support in the form of tax cuts and higher pay for minimum-wage workers are among changes to come into effect in the new financial year.

A key measure of inflation has jumped, climbing to 4% in May after edging up from a recent low of 3.4% in February.

The consumer price index increased to its highest level in 2024, indicating the Reserve Bank is unlikely to cut interest rates soon

May consumer price data gives the Reserve Bank another glimpse of how interest rate levels are working to bring inflation to heel.

These days every word of every statement from the Reserve Bank Governor Michele Bullock is pored over in minute detail – as is every word uttered at her press conference after each Reserve Bank board meeting.

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.

Rating agencies and the RBA among those marking the treasurer’s handiwork which he says is focused on spending restraint

The ASX200 has fallen 0.3 per cent, with losses for uranium producers and gains for goldminers, as investors await the outcome of the RBA's two-day meeting.

The economy is still expanding - but only just - after households opened the purse strings for concerts and other one-off events in the March quarter.

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.