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The Latest Breaking News from the Reserve Bank

Albanese links new energy plan to cost-of-living crisis

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.

AAP

Australia’s inflation rate jumps to 4%, putting an RBA rate rise back on the agenda

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 Conversation

Australia’s inflation rises to 4%, stoking concern interest rates could increase again

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

The Guardian - AU

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Inflation gauge to offer cold comfort for borrowers

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

AAP

Please stop obsessing over words. It’s quite simple: the RBA thinks inflation is too high

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.

The Conversation

Inflation-wary Reserve Bank spells long wait for cuts

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.

AAP

Treasurer touts ‘responsible’ 2024 NSW budget in tough economic times – but others will make that call

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

The Guardian - AU

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Australian shares finish lower as RBA decides on rates

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.

AAP

'Barely growing': economy limping as rate pain builds

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.

AAP

Minimum wage workers in Australia to get a 3.75% pay rise over the next 12 months

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

The Guardian - AU

Top economists give budget modest rating and doubt inflation will fall as planned

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 Conversation

What’s the difference between fiscal and monetary policy?

This article is part two of The Conversation’s “Business Basics” series where we ask leading experts to discuss key concepts in business, economics and finance.

The Conversation

'Abandoning customers': lenders fail battling borrowers

Mortgage stress in Australia is at its highest level since the global financial crisis but many borrowers are finding it too hard to get help from their bank.

AAP

Is the 2024 budget inflationary? Warwick McKibbin and other economists say ‘yes’

Former RBA board member among experts who say Albanese government’s third budget is likely to at least delay next interest rate cut

The Guardian - AU

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The Guardian - AU

Those calling for higher interest rates in Australia should be careful of what they wish for

We need to avoid replicating the experience of the 1990s, when taming inflation involved destroying the economy

AAP

Markets simmering as five-day rally peters out

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

AAP

Treasurer worried about home building pipeline

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.

The Guardian - AU

Inflation in Australia is still stubbornly high. Will the RBA raise interest rates again?

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?

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The Guardian - AU

Does Australia’s higher-than-forecast 3.6% inflation dash hopes for an interest rate cut?

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

The Hindu

RBI imposes business curbs on Kotak Bank for IT infra deficiency

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

Al Jazeera

‘Triple spending’: Zimbabweans bear cost of changing to new ZiG currency

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

The Guardian - AU

Australia’s unemployment rate rises to 3.8% in March as employers shed more than 6,000 jobs

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

Top News

South Africa Inflation Slows, Rate Cuts Not Imminent

South Africa's decreasing inflation rate signals positive economic trends, but caution is advised for immediate rate cuts.

The Guardian - AU

Talk of interest rate cuts soon is optimistic – here’s why the RBA may decide doing nothing is safer

Australians are hurting from rate rises more than anyone. But that doesn’t mean the Reserve Bank is about to start cutting

AAP

Rate hike talk ditched as RBA keeps options wide open

Minutes from the last Reserve Bank of Australia board meeting suggest everything is going according to plan - for now.

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